SBI labels RCom, Anil Ambani as fraud: What's the matter?
State Bank of India (SBI) has officially labeled Reliance Communications (RCom) and its promoter, Anil Ambani, as fraudsters as of June 13, 2025.
This move follows the RBI's Master Directions on Fraud Risk Management.
SBI is now preparing to take things further by filing a complaint with the Central Bureau of Investigation (CBI).
SBI's ₹3,000 crore exposure to RCom
SBI has a lot at stake—over ₹2,200 crore in loans and nearly ₹800 crore in guarantees tied to RCom.
The company is already going through insolvency proceedings, and while creditors have approved a resolution plan, it still needs the green light from the National Company Law Tribunal (NCLT).
Interestingly, SBI had tagged RCom and Ambani as fraud back in 2020 but reversed it after a Supreme Court order.
With new RBI guidelines out since July 2024 allowing banks to rely on each other's fraud findings, SBI reinstated the tag last month amid ongoing legal battles.