SBI Classifies Reliance Communications as 'Fraud'; Implications and Insights

On June 13, 2025, the State Bank of India (SBI) marked Reliance Communications and its promoter director, Anil D Ambani, as 'fraud'. As announced to Parliament, this move comes under the scrutiny of RBI's Master Directions on Fraud Risk Management alongside SBI's policy. The bank also plans to file a complaint with the Central Bureau of Investigation (CBI).

Details shared indicate SBI's credit exposure to Reliance Communications encompasses a fund-based principal amount and non-fund based bank guarantee totaling several crores. The company is under the Corporate Insolvency Resolution Process, awaiting further actions by the National Company Law Tribunal. Previously, a complaint filed in 2021 was returned due to legal interventions, but recent developments have seen the classified status reinstated.

In other sectors, Minister Pankaj Chaudhary highlighted governmental strides in supporting farmers with credit through the Kisan Credit Card and launched the Bima Sakhi scheme for women insurance agents, providing considerable financial backing to elevate their roles.

(With inputs from agencies.)