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( As on 02/07/2025 14:17)

SBI to label RCom loan account as 'fraud', to name Anil Ambani in RBI report

State Bank of India (SBI) has decided to classify the loan account of troubled telecom company Reliance Communications (RCom) as "fraud" and will report the name of its former director, Anil Ambani, to the Reserve Bank of India (RBI), the company disclosed in a regulatory filing.

RCom stated that it received a letter from SBI dated June 23, 2025, regarding the classification.

As per the filing, Reliance Communications and its subsidiaries had availed loans totaling Rs 31,580 crore from a consortium of banks.