The country’s second-largest state-owned bank, Punjab National Bank (PNB), today said it has an exposure of Rs 7000 crore in Adani Group, whose listed shares have taken a beating on allegations made in a report by the US-based short-seller Hindenburg Research. The claims in the report sparked a rout in Adani stocks.

“We have nothing to worry as our exposure is small at Rs 7,000 crore. This is spread across nearly eight entities of the group and most of the funding is cash flow based and only project financing,” Atul Kumar Goel, managing director & CEO, PNB, told reporters.

The business conglomerate, considered close to Prime Minister Narendra Modi, has business interests ranging from ports, airports, mining and power to media and cement.

He said of the total exposure, Rs 2,500 crore is related to the airport business. “Whatever exposure we are having is backed by cash flow. Total exposure includes investment of Rs 42 crore and remaining credit,” Goel said while announcing quarterly numbers.

He said: “I don’t need to worry on the current issue of Adani as most of the exposure is generating money to pay their dues.”