RBI to act

This refers to the report that the State Bank of India has decided to classify the loan amounts of beleaguered telecom firm Reliance Communications as “fraud” and report the name of its erstwhile Director Anil Ambani to the Reserve Bank of India.

We sincerely hope that this case too doesn’t turn out to be another Nirav Modi, Vijay Mallya and Lalit Modi, who escaped from India to cheat some of the nationalised banks in our country. We hope that the RBI would take immediate action to recover the overdue from all these defaulters.

Capt. N. Viswanathan
Coimbatore, India