India's Reliance Communications says SBI to report its loan accounts as 'fraud'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2025
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Source: Reuters
Reliance Communications Fraud Case: The State Bank of India has classified Reliance Communications' loan account as "fraud," dating back to August 2016, and will report former director Anil Ambani to the Reserve Bank of India as required by regulations.
Insolvency Proceedings: Reliance Communications is currently undergoing insolvency proceedings and is part of the Reliance Group led by Anil Ambani, who is the brother of billionaire Mukesh Ambani.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
