Overseas briefs: Banco de Madrid files for bankruptcy, SBI denies report it will reject Adani loan 17 March 2015 4:27PM Banking Day staff Spain's Banco de Madrid has filed for protection from creditors, The Wall Street Journal reported. The bank is facing accusations of money laundering and has been hit with substantial withdrawals. Spain's central bank said the bank could have difficulty meeting its obligations in a timely manner. Last week the US Treasury Department's Financial Crimes Enforcement Network named Banco de Madrid's parent, Banca Privada d'Andorra, a "primary money laundering concern". Reports that State Bank of India was set to reject Adani Group's A$1billion loan application for its Australian coal project were "all gossip", bank chairperson Arundhati Bhattacharya said. The Economic Times cited unnamed sources claiming that SBI was preparing to scrap the loan agreement it had signed with the Adani group last November.