State Bank of India 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), according to a regulatory filing.
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.
According to the filing, Reliance Communications and its subsidiaries received a total loan of Rs 31,580 crore from banks.
The Fraud Identification Committee of the bank has found deviation in utilization of the loans.
The letter marked to Reliance Communications and its erstwhile director Anil Ambani stated that SBI has decided to report the loan account of the company as “fraud” and to report the name of Anil Ambani to the RBI, as per the extant RBI guidelines, the filing said. (PTI)
