CBI arrests two RCOM senior executives in bank fraud case

SBI suffered losses of around Rs 2,929 crore. The total exposure of 17 public sector banks and financial institutions is estimated at Rs 19,694 crore. CBI has arrested two senior executives of Reliance Communications in connection with an alleged bank fraud case. The agency alleges that RCOM entered into circuitous transactions through shell entities, causing huge losses to the banks.