The five state-run general insurance companies have an aggregate exposure of 0.14 per cent of their total assets under management (AUM), or Rs 347.64 crore, in the Adani group, the finance ministry informed the Lok Sabha on Monday.

The exposure of New India Assurance, United India Insurance, National Insurance, Oriental Insurance and General Insurance Corporation is uptil January 31, minister of state for finance Bhagwat Karad said in a written reply to the Lok Sabha.

In reply to a question on details of money lent by banks and financial institutions to the Adani group, Karad said the RBI Act prohibits the disclosure of credit information submitted by a bank.

He said state-run Life Insurance Corporation of India(LIC), on January 30, said that LIC’s total holding under equity and debt is Rs 35,917.31 crores as on December 31, 2022, in Adani group of companies.

With regard to other financial institutions — Exim Bank, Small Industries Development Bank of India, NationalHousing Bank, National Bank for Financing Infrastructure and National Bank for Agriculture and Rural Development — Karad said they are bound by provisions of the concerned Acts, and are prohibited from divulging any information relating to their constituents.

Stocks of Adani companies had taken a beating, losing billions of dollars in market value, after US based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.

The Adani group has dismissed the charges.