Bank declares Reliance Communications loans belonging to Anil Ambani as fraudulent

Bank of Baroda, one of India's leading public sector banks, has taken a significant action against the loan accounts of Reliance Communications (RCom) and Anil Dhirajlal Ambani. On September 5, 2025, the bank classified the credit transactions of both entities as fraudulent.

This development is a significant blow to the two companies, which are already grappling with financial troubles. The classification of the loan accounts as fraud by Bank of Baroda is expected to have far-reaching implications, potentially affecting their ability to secure future financing and recover financially.

The decision comes after a series of defaults and missed payments by RCom and Anil Dhirajlal Ambani, leading to mounting losses for the bank. The bank's move is seen as a bold step towards addressing the issue of non-performing assets (NPAs) in the Indian banking sector.

Meanwhile, the banking sector in India is taking a day off today, as it is a bank holiday on September 5. Lenders across the country are closed today, and customers may face some inconvenience in their banking transactions.

Elsewhere in the financial world, Google has been fined USD 381 million in France for breaching antitrust rules. The tech giant is facing multiple investigations across the globe for similar violations.

In the stock market, there is a positive outlook for today's opening. Several stocks are set to undergo changes such as dividend payouts, stock splits, and bonus issues. Navratna PSU has fixed a record date for 50% payment on each share, while 17 other stocks are expected to have a dividend, 10:1 stock split, 1:1 Bonus Issue, and Right Issue.

Investors are also keeping a close eye on predictions for the gold market. Goldman Sachs has predicted a 50% rally in gold price for 2026, making it an attractive investment option for many.

Among the top stocks to buy after the GST rate cut, Hero MotoCorp, Trent, Maruti, HDFC Life, and more are making headlines. These companies are seen as potential winners in the post-GST era, offering attractive growth prospects for investors.

As always, it is essential for investors to do their due diligence before making any investment decisions. The financial market is dynamic and unpredictable, and it is crucial to stay informed and make informed decisions.