The entities were declared fraud on June 13 under RBI’s fraud risk management rules and the bank’s board policy, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha last month.
NEW DELHI — The CBI has filed a case against Reliance Communications and searched its premises on Saturday in connection with an alleged bank fraud that caused a loss of over Rs 2,000 crore to the State Bank of India, officials said.
The agency is conducting searches at the premises linked to RCOM and its Promoter Director Anil Ambani, they said, PTI reported.
The entities were classified as fraud on June 13 in accordance with the RBI’s Master Directions on Fraud Risk Management and Bank’s Board-approved Policy on Classification, Reporting & Management of Frauds, Minister of State for Finance Pankaj Chaudhary had said in a written reply in the Lok Sabha last month.
“On June 24, 2025, the bank reported classification of fraud to RBI, and is also in the process of lodging complaint with CBI,” he had said.
More details are awaited.
