CBI Files FIRs Against RHFL, RCFL in ₹285 Cr Bank Fraud Cases

• CBI filed FIRs against Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL) for alleged bank fraud, targeting connected individuals.
• RHFL is accused of causing over ₹228 crore wrongful loss to Union Bank of India through alleged cheating and fund siphoning.
• RCFL faces a separate criminal case for allegedly conspiring to cheat Bank of Maharashtra, causing a wrongful loss of over ₹57 crore.
• Forensic audits revealed systematic diversion of loan funds and misappropriation in both cases.
• CBI conducted searches at premises linked to RHFL and RCFL, seizing incriminating documents, with further investigations ongoing.

Why It Matters: CBI charges major finance firms with fraud, impacting financial sector trust.