Rout in Adani Group stocks triggers panic sell-off in PSU banks

A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans

Shares of Adani group stocks took a beating on the bourses on Wednesday following a Bloomberg report that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans to its private banking clients, a sign that scrutiny of the Indian tycoon's finances is growing after allegations of fraud by short seller Hindenburg Research.

According to the report, the Swiss lender's private banking arm has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai Ltd. It had previously offered