After SBI, BOI tags Anil Ambani & his firm as 'fraud'

Bank of India (BOI) followed SBI in tagging Reliance Communications' loan account as "fraudulent" due to alleged fund diversion. SBI had reported potential losses of ₹2,929 crore linked to the company, which led to the CBI registering a case and conducting searches at the company's Director Anil Ambani's residence. Just like SBI, BOI has also named Ambani in its complaint.