Bank of India classifies a ₹575 crore Future Enterprises account as fraud and reports it to the RBI
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Bank of India has told the exchanges that a non-performing asset has been declared as fraud and that the information was reported to the Reserve Bank of India on 12 Oct 2026, as the regulatory requirement says. The disclosure was made the same day under Regulation 30 of the SEBI listing rules and the bank’s policy on material events.
The account is that of Future Enterprises Limited. The filing gives the amount outstanding as ₹575.40 crore and the provision held as ₹575.40 crore, so the account is fully provided for.
Inference
A full provision means the bank has already set aside an amount equal to the whole outstanding balance, so declaring the account as fraud does not by itself require further provisioning on the amount the filing states.
The filing does not describe the nature of the alleged fraud or say whether the bank expects any recovery. It gives no other detail about the account.
Reference: Original filing (PDF)
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