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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsThe Centre told the Lok Sabha that State Bank of India (SBI) classified Reliance Communications Limited (RCOM) and its promoter-director Anil D Ambani as “Fraud” on June 13, 2025. The government said the classification was made under the Reserve Bank of India’s Master Directions on Fraud Risk Management and SBI’s board-approved policy. This is a bank classification reported to Parliament, not a criminal conviction. (Ministry of Finance answer, July 21, 2025)
What did the Centre tell Parliament?
The statement appeared in the Ministry of Finance’s written answer to Lok Sabha Unstarred Question No. 113, “Steps Taken by SBI to Safeguard Public Savings.” Shri S Venkatesan asked the question; Minister of State for Finance Pankaj Chaudhary answered it on July 21, 2025.
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The answer states: “SBI has classified Reliance Communications’ Limited (RCOM) along with Promoter Director Mr. Anil D Ambani as ‘Fraud’ on 13.06.2025 in accordance with the Reserve Bank of India’s Master Directions on Fraud Risk Management and Bank’s Board-approved Policy on Classification, Reporting & Management of Frauds.” The decision attributed to the bank is the classification; the Centre’s role in this account was to report it in Parliament. Read the Lok Sabha answer.
What does “classified as fraud” mean here?
It describes SBI’s classification under its fraud-risk framework and the RBI directions cited in the parliamentary answer. It should not be read as a court’s finding that a crime occurred or as a criminal conviction. The answer does not report a conviction, nor does it establish a total amount of fraud loss or recovery.
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The procedural steps are distinct: SBI made the classification, reported it to the RBI, and RCOM’s resolution professional disclosed it to the Bombay Stock Exchange. Separately, insolvency proceedings for the company and for Ambani were before the NCLT, according to the answer’s July 2025 account.
What was SBI’s reported exposure?
The government gave two separate exposure components. These figures are not a reported recovery and should not be added together as though they represented one settled debt figure.
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| Exposure component | Amount and qualification |
|---|---|
| Fund-based | ₹2,227.64 crore in principal outstanding, plus accrued interest and expenses with effect from August 26, 2016 |
| Non-fund-based | ₹786.52 crore in bank guarantee exposure |
Both amounts are those stated in the Ministry of Finance answer of July 21, 2025. The answer does not provide a combined loss or recovery total. Source: Ministry of Finance, Department of Financial Services.
What were the insolvency proceedings’ status in July 2025?
Reliance Communications
RCOM was undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors had approved a resolution plan, which was filed with the NCLT Mumbai on March 6, 2020. The parliamentary answer said NCLT approval was awaited.
Anil D Ambani
SBI had also initiated a Personal Insolvency Resolution Process against Ambani, which the answer said was then being heard by NCLT Mumbai. This is a separate process from RCOM’s company insolvency proceeding.
These are the statuses recorded in the answer in July 2025; they should not be treated as confirmation of either proceeding’s present status.
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How did the 2025 classification follow earlier events?
Scroll’s account supplies context for the earlier classification and its reversal. According to that report, SBI had classified the account and Ambani as “fraud” in 2020, filed a CBI complaint on January 5, 2021, and reversed its earlier classification on September 2, 2023, after the Supreme Court’s March 27, 2023 decision in State Bank of India & Others v. Rajesh Agarwal & Others. Scroll says the decision required lenders to give borrowers an opportunity to represent their case before a fraud classification. It also reports that the earlier complaint was returned in view of a Delhi High Court status quo order dated January 6, 2021. (Scroll’s report)
Scroll further reports that SBI re-ran the classification process under an RBI circular dated July 15, 2024, and was in the process of registering a complaint with the CBI. The July 21, 2025 parliamentary answer confirms the June 2025 classification, but it does not itself state that CBI step.
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When was the classification made and disclosed?
| Date | Event | Source |
|---|---|---|
| June 13, 2025 | SBI classified RCOM and Anil D Ambani as “Fraud.” | Ministry of Finance answer |
| June 24, 2025 | SBI reported the classification to the RBI. | Ministry of Finance answer |
| July 1, 2025 | RCOM’s resolution professional informed the Bombay Stock Exchange as part of disclosure compliance. | Ministry of Finance answer |
| July 21, 2025 | The Centre provided the information in its Lok Sabha written answer. | Ministry of Finance answer |
The sequence distinguishes the bank’s decision from its regulatory reporting, the company-side exchange disclosure, and the later parliamentary response.
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