THE JHARKHAND STORY DESK
New Delhi, August 23: Reliance Communications (RCOM) and its promoter-director Anil Ambani are now facing a formal CBI case over an alleged bank fraud of more than ₹2,000 crore against the State Bank of India.
Following the registration of the case, the agency on Saturday carried out searches at premises connected to the company and Ambani.
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The development follows SBI’s decision to classify the company’s accounts as fraudulent under the RBI’s fraud risk management guidelines.
Minister of State for Finance Pankaj Chaudhary had told Parliament last month that the bank’s board approved the fraud classification on June 13.
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On June 24, 2025, SBI reported the fraud to the Reserve Bank of India and moved to lodge a complaint with the CBI, leading to the filing of the case and subsequent raids.
