Latest news with #KarnatakaBank
New Indian Express
6 days ago
- New Indian Express
Six arrested for running online betting racket in Andhra Pradesh's Prakasam
ONGOLE: Prakasam district police busted an online betting racket and arrested six individuals for their involvement in operating the network and misusing bank accounts to transfer funds abroad. The arrests were made under the supervision of Prakasam District Superintendent of Police AR Damodar, who briefed the media on Wednesday. The accused are Shaik Nayab Rasool (32), Arusumalla Praneeth Kumar (32), Syed Shahajad Ali (25), Singanaboina Chaitanya Kumar (25), Shaik Khadarunnisa alias Mastanamma (50), and Shaik Ayesha (30). All were arrested near Mukthinuthalapadu and Milk Dairy Centre. SP Damodar said the primary accused, Shaik Yasin from Udayagiri and currently residing in Hyderabad, collaborated with international online betting operators known as White, Jimmy, and Maunika via the Telegram app. The group allegedly created multiple fake bank accounts using false documents, offering payments between Rs 15,000 and Rs 45,000 to account holders in exchange for their banking kits, ATM cards, SIMs, and passbooks. These were routed to foreign handlers for illegal transactions. The racket operated across Nellore, Ongole, and Hyderabad, utilising banks like Karnataka Bank, Indian Overseas Bank, and Federal Bank. Efforts are underway to apprehend other suspects, including Ajay, Vijay, Syam, Rabbu, Jimmy, White, and Maunika. SP Damodar praised the investigation team led by Ongole DSP R. Srinivasa Rao, Ongole Taluka CI Vijayakrishna, IT Core CI V Suryanarayana, and IO B Phani Bhushan.
Time of India
7 days ago
- Business
- Time of India
Click, invest, regret: Rs 39L lost in two online scams
1 2 3 Chandigarh: In a double blow to digital trust, two residents of Sector 22 were conned out of a staggering Rs 39 lakh in separate online investment scams that promised high returns but delivered only heartbreak. Gurdeep Kaur's ordeal began with a seemingly harmless Facebook group offering stock tips. With 102 members and five administrators, the group looked legitimate. One admin, Aradhya Mishra, reached out via WhatsApp, offering investment advice. Gurdeep started small — Rs 10,000 in Akai Metals, earning Rs 282 in a day. Encouraged, she invested more, including Rs 2.5 lakh in Hitachi Energy India Ltd and Rs 1 lakh via Karnataka Bank. Her dashboard showed profits soaring to Rs 1.62 crore, but when she tried to withdraw, she was told her account was frozen due to an IPO win worth Rs 2.12 crore. The catch? She had to pay Rs 60 lakh to unlock it. Realizing she'd been duped, Gurdeep filed a complaint with the cyber cell, which is now investigating the matter. In another case, Abhishek Jain was lured by a woman posing as a receptionist for an online firm. She offered paid review tasks, which built trust. Soon, she pitched an investment scheme via Telegram, claiming ties to CBOE Global Markets. Jain invested Rs 16.45 lakh over a month, but his withdrawals failed after initial success. He received just Rs 43,452 in return. Both victims transferred funds via RTGS, IMPS, and Google Pay to multiple accounts. The UT cyber cell has registered cases and is trailing the digital footprints of the fraudsters.
The Hindu
7 days ago
- The Hindu
Ongole police bust online betting racket, arrest six
Ongole Taluka police on Wednesday arrested six persons for their involvement in the operation of an online betting racket and misusing bank accounts of people to transfer money to foreign countries. The police are in the process of arresting eight others who are also linked to the betting racket. The accused created and sold multiple bank accounts to facilitate their monetary transactions. Shaik Nayab Rasool from S.N. Padu, Arusumalla Praneeth Kumar from Hyderabad, Syed Shahijad Ali from Udayagiri, Singanaboina Chaitanya from Nellore, Shaik Khadarunnisa from Kurnool, and Shaik Ayesha from S.N. Padu were arrested near Peerlamanyam and Arunodaya Colony at Pernmitta village, S.N. Padu mandal, in Prakasam district on Wednesday. Addressing a press conference, Prakasam Superintendent of Police (SP) A.R. Damodar said, 'The main orchestrator, Shaik Yasin, a native of Udayagiri and currently residing in Hyderabad, maintained contacts with international online betting app operators named White, Jimmy, and Maunika through the Telegram app.' 'The group offered lucrative amounts from ₹15,000 to ₹45,000 in exchange for opening savings and current accounts, along with submission of ATM cards, SIM cards, and bank passbooks. Praneeth, Nayab Rasool, and others coordinated with individuals like Syam, Ajay, Vijay, Chaitanya, and others to deliver the account kits to foreign handlers via couriers,' he informed. These accounts were used to route betting money internationally, exploiting net banking and digital verification methods. They have operated across Nellore, Ongole, and Hyderabad, and have used banks like Karnataka Bank, Indian Overseas Bank, and Federal Bank to create fake accounts. Efforts are on to arrest Ajay, Vijay, Syam, Rabbu, Shaik Yasin, Jimmy, White and Maunika, police said.
Time of India
16-07-2025
- Business
- Time of India
Karnataka Bank's chief assures stability, growth
Mangaluru: Raghavendra S Bhat took charge as the new MD & CEO of Karnataka Bank at its corporate headquarters in Mangaluru on Wednesday. Addressing recent concerns, Bhat assured customers that the bank remains fundamentally strong. He told reporters, "Karnataka Bank has consistently maintained profitability and declared dividends since its inception, which is unique in the Indian banking sector." O utlining his vision, Bhat said his immediate goal is to increase the bank's business turnover from Rs 1.8 lakh crore to Rs 2 lakh crore. "I am committed to taking every necessary step in the best interest of the bank and its stakeholders," he said. Dismissing speculation, Bhat firmly ruled out any plans to shift the bank's headquarters from Mangaluru or to change its name. "We are proud of our strong regional roots and legacy," he affirmed. With a career at Karnataka Bank spanning nearly four decades, Bhat began as a clerk in 1981 and rose through the ranks to become chief general manager and chief operating officer before retiring in 2019. "It is a matter of great pride and joy to return to the institution that shaped my professional journey. However, the post comes with a lot of responsibility," he said. Bhat called for collective support from employees and customers and assured that the vision of supporting agriculture, MSMEs and other sectors will continue.
Time of India
15-07-2025
- Business
- Time of India
Karnataka Bank appoints COO as interim MD & CEO
Kolkata: Karnataka Bank has appointed its chief operating officer Raghavendra Srinivas Bhat as managing director & chief executive officer for three months from July 16, 2025. Meanwhile, the bank continues to search for a regular MD & CEO. The vacuum at the bank's top position was created earlier in the month as MD Srikrishnan Hari Hara Sarma and executive director Sekhar Rao stepped down from their respective positions after a conflict with the board. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Bhat will step aside if a new head comes before his three-month stint. Bhat has resigned from the COO position and has been appointed as an additional director at the board. Our Bureau
