Reliance Communications’ Loan Account Classified as Fraud Amid Insolvency Proceedings

Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The latest announcement is out from Reliance Communications Limited ( (IN:RCOM) ). Reliance Communications Limited has been informed by the Bank of Maharashtra that its loan account…

Iran’s Ayandeh Bank declared bankrupt as global sanctions choke economy; 5 other banks grappling with ‘bad debts’- The Week

The international sanctions, chronic inflation and depreciated currency are smothering Iran’s economy and now one of the country’s largest private banks has gone bankrupt. Ayandeh Bank, which was set up in 2012, had 150 branches in Tehran alone and 120 more in other parts of the country. Recently, the private bank was grappling with around…