After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing.
State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
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on Sun, 24 Aug 2025 16:06:23 +0530
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Tags: Bank of India tags RCom, Anil Ambani as frauds
