Japan's SBI has followed Nomura's lead in disclosing its exposure to Adani Funds, as the global repercussions of Indian billionaire Gautam Adani's alleged bribery scheme continue.

This legal action has resulted in significant reactions, including Kenya canceling $2.6 billion in airport and power transmission contracts that were being considered by Adani's conglomerate.

TotalEnergies SE has also announced that it will not make any new investments in the Adani group until the implications of the US indictment are fully understood.

SBI's mutual funds have exposure levels ranging from 0.21% to 2.55%, while Nissay's exposure is between 0.02% and 0.24%.

Last week, Nomura Asset Management Co. and Daiwa Asset Management Co. made similar disclosures, indicating the growing concern among major financial institutions regarding their investments linked to Adani.