"We would like to state that State Bank of India had never committed any loan to the Adani Group. We had only signed an MoU with the group in Australia last year, for assessing the Carmichael coal mines project," SBI said in statement.

The bank also denied that the MoU was signed in the presence of Prime Minister Narendra Modi.

Though the Adanis bought the coal mines, which has the world's largest coal reserves, in 2010, the project has not taken off due to severe opposition from green activists.

Group chairman Gautam Adani had said that recently he requested the Australian prime minister to pass a new law that prohibits green activists from approaching courts to review government sanctions time and again and this has also forced banks from funding the project.

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