NEW DELHI: The Indian government has nothing to do with the issues of the Adani Group whose shares have tumbled following a scathing report from a US short seller, the minister of parliamentary affairs said on Friday.

“The government has nothing to do with Adani matters,” Pralhad Joshi told reporters.

India’s finance secretary, when asked about the Adani Group companies’ stock rout, said there was no cause for concern for depositors, policyholders or investors in any nationalised banks or insurance companies, NDTV reported.

India’s Adani denies rise due to Modi as shares slump again

The exposure of the State Bank of India and the Life Insurance Corporation of India in any company is far below the level where it should be a concern for investors, Finance Secretary T.V. Somanathan told NDTV on Friday.

Adani Group companies’ market value has move than halved to less than $100 billion after a critical report last week by a US short seller.