New Delhi, July 2 -- India's largest state-run bank, State Bank of India (SBI), on 23 June 2025 decided to classify Reliance Communications' loan account as "fraud" and is looking to report the company's director, Anil Ambani, to the banking regulator, the Reserve Bank of India (RBI), the company said in an exchange filing.

As per the details shared in the letter to Reliance Communications, the bank's Fraud Identification Committee (FIC) has decided to classify the loan account as 'fraud' due to the deviation in the utilisation of the loan funds.

Reliance Communications, Reliance Infratel (subsidiary), and Reliance Telecom (subsidiary) have cumulatively received Rs.31,580 crore in loans from banks.

State Bank of India's FIC witnessed t...