Anil Ambani: From the 6th richest in the world to Rs.31,580 cr ‘fraud’ tag by State Bank
State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications as “fraud” and to report the name of its erstwhile director — Anil Ambani to the Reserve Bank of India (RBI). The move is expected to be followed by other lenders who have given loans to Reliance Communications Ltd (RCom).
Reliance Communications, in a regulatory filing, said that it has received a letter dated June 23, 2025, from the State Bank of India (SBI) to this effect. SBI has decided to…