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State Bank to Classify RCom Loan Account as 'Fraud'
Hindustan Times Rajasthan
|July 03, 2025
State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications (RCom) 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.
NEW DELHI:
RCom in a regulatory filing said that it has received a letter dated June 23, 2025 from the SBI to this effect.
According to the filing, Reliance Communications (RCom) and its subsidiaries received a total loan of ₹31,580 crore from banks.
The Fraud Identification Committee of the bank has found deviation in utilization of the loans involving complex web of fund movements across multiple group entities.
This story is from the July 03, 2025 edition of Hindustan Times Rajasthan.
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