Latest news with #RTGS
Time of India
a day ago
- Business
- Time of India
Noida man loses Rs 2.9 crore in a stock trading fraud scheme
Noida: A Sector 36 resident was allegedly cheated out of nearly Rs. 2.9 crore in a cyber fraud. The scammers posed as stock traders from a Kolkata-based company He registered a complaint with the Cyber Crime police, accusing two individuals named Keerti Saraf and Krishna Rath M, of cyber fraud, breach of trust, and investment fraud. They claimed to be wealth management gurus representing a company named "Abbott Wealth Management". They promised lucrative returns on investments, such as 15-30% profit within 24 hours, and convinced him to transfer substantial amounts of money to various bank accounts under the guise of legitimate investment schemes. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida The complainant said that the accused, particularly Saraf, spent a long time developing a personal relationship with him on WhatsApp. From April to June, he was repeatedly contacted by the accused, who made him transfer funds through RTGS to multiple accounts. The total amount transferred amounted to Rs 2.89 crore. They ultimately told him he had profits of Rs 35 lakh, but he did not see any of it. He further explained that after the initial payments, the accused demanded additional funds under various pretexts, including service charges, processing fees, and taxes. They also shared forged official documents from bodies such as SEBI to persuade him. Despite making all the payments, the complainant did not receive any returns or benefits from the investments. Instead, he realised that he was duped. The complaint also highlighted the emotional and psychological distress caused by the fraud. He described how the accused used fake identities, forged documents, and false promises to manipulate him into transferring funds. He provided detailed information about the transactions, including account numbers, transaction dates, and amounts transferred, to assist in the investigation. Based on the statements, police filed a case under sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita and section 66D of the IT Act.
Time of India
a day ago
- Business
- Time of India
Andhra Pradesh government conducts rigorous scrutiny to ensure Annadata Sukhibhava benefits reach eligible farmers
1 2 Vijayawada: In a decisive move to ensure that every eligible farmer receives financial support under the Annadata Sukhibhava scheme, the Andhra Pradesh govt has launched a rigorous pre-verification process. This marks the first time such detailed scrutiny is being conducted ahead of the scheme's rollout. The department of agriculture, in partnership with the National Payments Corporation of India (NPCI) and the Real-Time Governance Society (RTGS), reviewed the data of 47.41 lakh farmers who successfully completed their eKYC. While the majority are active in the NPCI system, nearly 1.21 lakh farmers still face issues that could block their access to the benefits. Specifically, 76,705 farmers were found to have dormant or inactive bank accounts, and another 44,977 farmers were not found in the NPCI database due to lack of Aadhaar-bank linkage or NPCI mapping. "These technical issues have in the past deprived many deserving farmers of their benefits," said agriculture department director S Dilli Rao. "This time, we are committed to ensuring that no eligible beneficiary is left out. We are verifying every account in advance so that the financial assistance reaches the right hands without delay. District officers and field-level staff have been instructed to identify and guide these farmers to complete eKYC, Aadhaar linking, and ensure their bank accounts are active," he added. List of affected farmers have been made available at Rythu Seva Kendras (RSKs) and through Mandal Agriculture Officer (MAO) login portals. Based on updated and verified information, the final list of beneficiaries will be prepared by RTGS and APCFSS. By addressing these issues before disbursing funds, the govt aims to avoid pitfalls of previous years and set a new benchmark in transparency and effectiveness in farmer welfare schemes.
Time of India
2 days ago
- Business
- Time of India
Andhra Pradesh government to pilot free LPG cylinder scheme under Direct Beneficiary Transfer in two districts
Vijayawada: The state govt has decided to switch to Direct Beneficiary Transfer (DBT) mode to implement the promised free LPG cylinder scheme. The DBT mode will be initially implemented through six LPG distributors in NTR and Guntur district as a pilot. Tired of too many ads? go ad free now The govt has decided to roll out the scheme across the state only after studying the results of the pilot project. The decision to move to DBT system has been taken following the chief minister Chandrababu Naidu's directive. The state govt launched a free LPG cylinders programme last November. The govt promised to give one cylinder free of cost in each quarter in a financial year. The scheme is applicable to all the BPL card holders. As per the existing guidelines of the scheme, the consumers need not to pay the cost of the cylinder to the distributor. The LPG distributors are supplying cylinders without taking any amount as the govt is remitting the amount to the oil companies. The state govt signed an MoU with the oil companies to ensure the smooth supply of LPG cylinders with a promise to pay the total amount soon after the completion of the bookings each quarter. The civil supplies and consumers affairs ministry, which acted as the nodal agency, felt that it is the best way of implementation of free cylinder scheme as it would be transparent. Similarly, the booking of refills are accepted only one per quarter, which is also helping the exchequer save huge amount even if some consumers failed to book the cylinders within the stipulated deadlines. The scheme is implemented in Dec-Mar, April-July, Aug-Nov period although it was launched in November. Tired of too many ads? go ad free now However, chief minister Chandrababu Naidu felt that LPG consumers were not feeling that the state govt is taking the financial burden of the free cylinders scheme. Based on a survey carried out through RTGS, the chief minister advised the civil supplies department to explore implementation of DBT so that the consumers could themselves pay the bill after getting the amount from the govt. "There is no point in taking such a huge burden without making the people feel that we have fulfilled the promise," said chief minister at a recent review meeting.
Indian Express
3 days ago
- Indian Express
Bengaluru police arrest 15 men for luring businessmen with cryptocurrency scheme, staging robbery to steal cash
Fifteen members of a gang that allegedly lured businessmen to invest in cryptocurrency schemes with promises of doubling their money and then stole the cash by staging robberies have been arrested, the Bengaluru police said on Tuesday. According to the police, the scam came to light when a man approached the Vidyaranyapura police on June 26, saying he was robbed of Rs 2 crore during a business transaction. When the police began investigating, they allegedly realised that the complaint was a ruse to misguide them. Seemant Kumar Singh, Police Commissioner of Bengaluru, stated on Tuesday that the investigation revealed the accused had split their gang into two groups. The first group allegedly approached wealthy businessmen, built trust, and then offered to convert their excess, unaccounted cash into cryptocurrency, particularly USD Tether. They allegedly promised to double the investment and reroute funds through RTGS transactions, and also offered GST benefits. Once the businessmen were convinced and agreed to convert their black money into white, the second group staged a robbery while the cash transaction was taking place, the police said. According to the police, in the June 26 case, the gang allegedly targeted businessmen Bharath Singh from Bengaluru and Abhishek from Mangaluru, offering to convert Rs 2 crore through the cryptocurrency scheme. The police recovered Rs 1.11 crore in cash and seized several assets, including four cars, four two-wheelers, two autorickshaws, multiple weapons (two knives, one long knife, one machete), and eight mobile phones from the accused. The police identified the accused as Benjamin Harsha, 45, from Yelahanka; Rakshith M, 29, from Tumakuru; Chandra Shekar HS, 58, from Bagalagunte; Syed Akeeb Pasha alias Akeeb Pasha, 30, from Vidyaranyapura; Mohammed Suhail, 28, Salman Khan, 32, and Muheeb S, 30, from Vidyaranyapura; Mohsin Khan, 32, from Chamarajpet; Salman Khan, 35, from Banashankari; Shreeharsha V, 33, from Kengeri; Syed Amjod, 31 and Syed Afrid, 27, from MS Palya; Syed Wasim, 23, from KR Puram; Sheikh Wasim, 33, from Vinayak Nagar and Mohammed Ateeq, 38, from Kumaraswamy Layout. Many of the arrested suspects have previous criminal records, the police said, adding that four accused—Sandeep, Sheikh Saadu, Rakesh, and Mohammed Shabir—are absconding.
New Indian Express
3 days ago
- New Indian Express
Crypto scam twist: Bengaluru man who reported Rs 2 crore robbery turns out to be mastermind
BENGALURU: In a dramatic twist to the Rs 2 crore robbery case reported in Vidyaranyapura last month, investigators have uncovered that the complainant himself orchestrated the entire heist. The police have arrested 15 people, including the complainant, identified as Shri Harsha, for cheating two businessmen under the guise of converting their cash into the cryptocurrency USDT (Tether). Four more suspects remain at large. The arrested have been identified as Harsha, a businessman, Rakshith M, Chandrashekhar, Benjamin Harsha, Syed Akhib, Mohammed Suhail, Salman Khan, Muheeb S, Mohsin Khan, Salman Khan (second accused with same name), Syed Amjad, Syed Afreed, Syed Wasim, Mohammed Ateeg. Sandeep, Sheikh Sadu, Rakesh and Mohammed Sabeer are absconding. According to the police, Harsha filed a complaint on June 25, claiming that he had been robbed by five armed men while facilitating a cryptocurrency transaction in MS Palya. He alleged that during the deal, the gang assaulted him and his associated and escaped with Rs 2 crore in cash. However, the case took a turn after the arrest of the suspects. During interrogation, they revealed Harsha's role in plotting the crime. Further investigation, bolstered by CCTV footage and call record analysis, confirmed Harsha's involvement. Police said Harsha had lured two businessmen — Bharath Singh from Bengaluru and Abhishek from Mangaluru — promising high returns by converting their Rs 2 crore cash into USDT. He assured them that the deal would be routed through RTGS with GST-compliant documentation and premium profit margins.
