New Delhi, July 2 -- India's largest state-run bank, the 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), exchange filing data showed.

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.

The State Bank of India's FIC witnessed two 'major' deviations from the loan taken and utilised by the company.

Reliance Communications received a loan of Rs.250 crore from Dena Bank on 8 February 20...