The State Bank of India (SBI) has officially declared its loan exposure to Reliance Communications (RCom) as “fraudulent,” as per the regulatory disclosures and banking sources. The bank has also submitted the name of RCom’s former chairman, Anil Ambani, to the Reserve Bank of India (RBI) as part of the required process under RBI’s fraud monitoring guidelines. This move comes after a forensic audit reportedly revealed irregularities in the financial conduct of the company, which is currently undergoing insolvency proceedings. SBI, the lead lender to RCom, had extended significant credit to the telecom firm prior to its financial collapse. Pointing out a loan as fraud allows banks to pursue stricter legal and recovery measures, including filing complaints with investigative agencies such as the CBI or ED. The inclusion of Anil Ambani’s name indicates the possibility of directorial accountability under regulatory scrutiny. This development marks another blow to the once-flagship telecom venture of the Reliance ADA Group, which has been battling debt and legal woes for years.