Daily Current Affairs / SBI Labels RCom Loan Account a Fraud, Names Anil Ambani in RBI Report:
Category : Business and economics Published on: July 05 2025
In a major legal setback for Anil D. Ambani, State Bank of India has classified its loan to Reliance Communications (RCom) as a fraud account, citing fund diversions and breach of terms. With RCom under IBC since 2018 and carrying a ₹48,216 crore debt (as of Mar 2025), SBI’s action could prompt further CBI and civil/criminal investigations.
Natco Pharma to acquire 36% stake in South Africa's Adcock Ingram for ₹2,000 crore.
Read More....Android and Google Play contributed ₹4 lakh crore to India’s economy in 2024, creating 35 lakh jobs.
Read More....India resumes tourist visa services for Chinese nationals after 5 years post-Galwan standoff.
Read More....Indian cities need over $2.4 trillion by 2050 to tackle climate risks, says World Bank.
Read More....India ranks 77th in 2025 Henley Passport Index with access to 59 visa-free countries.
Read More....Mumbai’s CSMIA ranks among top 10 global airports in Travel + Leisure Awards 2025.
Read More....RBI approves Warburg Pincus affiliate to acquire 9.99% stake in IDFC First Bank.
Read More....SBI named World’s Best Consumer Bank for 2025 by Global Finance magazine.
Read More....Indian Coast Guard receives indigenous pollution control vessel ‘Samudra Prachet’.
Read More....Angel One to invest ₹400 crore in digital-first life insurance JV with Singapore’s Livwell.
Read More....