The country’s government may need to nudge local lenders to support the growth of the billionaire’s infrastructure conglomerate.

Indian billionaire Gautam Adani has been slapped with criminal fraud charges in the US for allegedly orchestrating a $250m (£198m) bribery scheme to secure lucrative renewable energy contracts in his home country.

US authorities have accused Gautam Adani and Adani Group executives of bribery. The charges involve securing contracts for solar power projects in India. The Adani Group denies the allegations. This situation has impacted the company's financial standing and raised concerns about India's corporate governance.

TotalEnergies has paused investments in India's Adani Group following allegations of a multi-million-dollar bribery scheme involving its chairman, Gautam Adani. Charges by US authorities have prompted scrutiny and led to falling stock prices.

French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.

TotalEnergies has paused new investments in the Adani Group following allegations of corruption against the Indian conglomerate.