State Bank of India has classified Reliance Communications’ loan account as “fraud” and plans to report it to the Reserve Bank of India along with the name of former director Anil Ambani. | Image:
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Reliance Communications Limited (RCOM) has officially disclosed that the State Bank of India (SBI) has decided to classify its loan account as “fraud”. This was conveyed through a letter dated June 23, 2025, which the company received on June 30, 2025.
In the disclosure to stock exchanges, RCOM stated, “SBI has decided to report the loan account of the company as ‘fraud’ and to report the name of Anil Dhirajlal Ambani (erstwhile director of the company) to the RBI, as per the extant RBI guidelines.”