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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The state-run bank has cited diversion of funds by the company and its former director Anil Ambani to related parties.
State Bank of India (SBI) has moved to classify the loan account of Reliance Communications Ltd as fraudulent and report the name of Anil Ambani, the company's former director, to the Reserve Bank of India.
The decision was communicated in a letter received by Reliance Communications on 30 June, the company said in an exchange filing.
SBI noted that Reliance Communications, along with subsidiaries Reliance Infratel and Reliance Telecom, cumulatively received Rs 31,580 crore in loans from banks, out of which only Rs 13,667 crore was used for the repayment of loans and other obligations, which marked 44% of …
The stablecoin neobank has raised more than $100 million this year; Saudi Arabia is looking at stock market reforms; and other updates from the week.
As India prepares to throw open its nuclear sector to private players, the conglomerate is taking position. But the technology, economics and risks look far tougher than anything it has scaled so far.
India’s largest lender is going out of its way to grow its mutual fund business at the cost of shareholders, raising questions of corporate governance.
