According to reports, State Bank of India has classified Reliance Communications and its promoter Anil Ambani as ‘fraud’, initiating a complaint with the CBI. Key highlights:
• SBI acted in line with RBI’s fraud risk management directives.
• Complaint lodged on June 24, 2025, following fraud classification on June 13.
• Resolution Professional disclosed fraud classification to BSE on July 1, 2025.
• SBI’s exposure in RCom amounts to ₹2,227.64 crore.
This move impacts the ongoing insolvency resolution process for RCom and Anil Ambani, awaiting NCLT approval.
Source: Business News Today, Latest Finance News | The Hindu