New Delhi: The CBI has registered a case against Reliance Communications (RCOM) and conducted searches at its offices on Saturday over an alleged bank fraud, which reportedly caused a loss of more than ₹2,000 crore to the State Bank of India (SBI), officials said.
The searches are being carried out at locations associated with RCOM and its Promoter Director, Anil Ambani, they added.
According to Minister of State for Finance Pankaj Chaudhary, the entities were classified as a fraud on June 13 under the RBI’s Master Directions on Fraud Risk Management and the bank’s board-approved policy on fraud classification, reporting, and management, as stated in a written reply to the Lok Sabha last month.
He further noted that on June 24, 2025, SBI reported the fraud classification to the RBI and is in the process of filing a complaint with the CBI.
Further details are awaited.
