Allegations of crony capitalism to the tune of a rumoured US$1 billion loan in support of the Adani Group's stalled Australian coal mines project, have triggered a strong rebuttal from State Bank of India. According to Mumbai based news service dnaindia.com, SBI (which is the country's largest bank) has asserted that its only action on the Carmichael coal mines project has been to sign a memorandum of understanding, a preliminary step ahead of any due diligence process.