US EditionSBI Tags Reliance Communications’ Loan as ‘Fraud’, Names Anil Ambani in Letter to RBI - The Statesman
- On June 23, 2025, Reliance Communications received a letter from the State Bank of India informing the company that its loan account had been classified as fraudulent and that the bank would be reporting Anil Ambani’s name to the Reserve Bank of India.
- This action follows SBI's investigation into loan irregularities and unsatisfactory responses from RCom about deviation in fund utilization across group entities.
- The SBI Fraud Identification Committee reported Rs 13,667.73 crore involved, with 41% going to connected parties and some loans misused, including a Rs 250-crore Dena Bank loan.
- The bank indicated in its June 23 letter that the explanations provided were inadequate and has decided to notify the Reserve Bank of India about the account of Reliance Communications and Anil Ambani’s association, following RBI guidelines.
- RCom stated these loans predate its 2019 insolvency and that resolution is subject to IBC protections, while SBI's classification may lead to credit restrictions and further enforcement.
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SBI to tag RCom loan account as ‘fraud’, names Anil Ambani in report to RBI - The Tribune
The State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications as “fraud” and report the name of its erstwhile director — Anil Ambani — to the Reserve Bank of India (RBI).
·Chandigarh, India
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Anil Ambani's Lawyer Says SBI Tagging RCom as 'fraudulent' Violates RBI Rules, Court Orders
Get latest articles and stories on Latest News at LatestLY. Industrialist Anil Ambani's lawyers have written to State Bank of India protesting against classification of loan accounts of bankrupt Reliance Communications as fraudulent, saying the move violated RBI guidelines as well as court directions. Latest News | Anil Ambani's Lawyer Says SBI Tagging RCom as 'fraudulent' Violates RBI Rules, Court Orders.
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