Bank of India Flags INR 5.75 Billion FEL Exposure as Fraud
Bank of India said its INR 5.75 billion exposure to Future Enterprises was declared fraud after the account had already been classified and provided for.
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what happened
Bank of India has classified its 575-crore-rupee exposure to Future Enterprises (FEL) as fraud, according to a stock-exchange filing cited by Newsmetry API. The account had previously been designated non-performing, and the bank said provisions had already been made against it.
Kishore Biani’s FEL entered insolvency proceedings in 2022. The company formerly developed, owned and leased retail infrastructure for Future Group. It also held the group’s stakes in subsidiaries and joint ventures spanning insurance, textile manufacturing, supply chains and logistics.
why it matters
The classification adds another adverse development for Bank of India and highlights the continuing distress surrounding Future Enterprises’ assets. Because the account was already non-performing and provided for, the disclosure concerns a previously recognized problem exposure rather than a newly identified credit.
instruments
sources
- BoI Declares 575-cr Exposure to Future Enterprises as Fraud — Newsmetry API, 13 October 2026 at 04:16 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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