Latest news with #DCB
Time of India
2 days ago
- Time of India
Former Rasipuram municipal chairman arrested for cheating public
COIMBATORE: The crime branch of the Namakkal district police arrested a former Rasipuram municipal chairman -- who is an AIADMK functionary -- on charges of cheating the public to the tune of Rs 11.50 lakh by promising to give them house sites. The arrested man has been identified as M Balasubramanian, 56. He is AIADMK's Rasipuram urban secretary. Police said Balasubramanian was a real estate promoter in 2009. He sold around 2,500 plots in and around Rasipuram. He announced that people who wanted to buy sites for constructing houses could pay him in instalments over a period of 50 months. Once people paid the full amount of Rs 1.15 lakh, he would register a site in their names immediately. He sold more than 2,000 sites to people. However, he allegedly failed to register plots in the name of some people who invested their money with him. Around 11 people lodged a complaint with the DCB police two weeks ago, alleging that Balasubramanian had failed to register the sites in their names and cheated them by receiving the amounts through monthly instalments. They demanded action against him. After a detailed inquiry, the police registered an FIR against Balasubramanian and arrested him on Thursday evening. He was remanded in judicial custody on Friday.
Time of India
4 days ago
- Business
- Time of India
I-Sec maintains Buy on DCB Bank, target price Rs 175
ICICI Securities maintains a Buy call on DCB Bank with a target price of Rs current market price of DCB Bank is Rs 144.75 . DCB has a strong track record of nearly doubling its loan book in 36?42 months on a consistent basis, which was impacted during the pandemic. Loan growth remained muted in single-digits for the pandemic period. Post this, the bank regained its mojo and has delivered strong loan growth over the last three years (FY23-25). In fact, DCB was the fastest growing bank with FY25 loan growth at ~25% YoY. ICICI Securities also highlights that the bank has been posting loan growth >18% for the last 10 consecutive quarters, perhaps the only bank. Co-lending has emerged as the key growth driver for DCB. The share of co-lending has jumped to 13% as of FY25 vs. ~7%/7.5% in FY23/FY24, suggesting strong growth contribution. Excluding co-lending also, growth has been healthy at ~17% YoY in FY25 ? still one of the highest across peers. Going ahead, the bank expects co-lending book growth to be similar to overall loans. We model ~18% CAGR in loans for FY25?27E. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like '이것' 부족하면 운동 소용없다.. 갱년기 살찐 진짜 이유 워킹맘 로즈 더 알아보기 Undo Investment Rationale The DCB Bank management is re-orienting the bank towards being customer-centric, as opposed to being product-centric earlier. Over the medium term, the management believes this should enable higher customer engagement, enrich depth of relationship, improve cross-selling, lower cost of acquisition andscale benefits and in whole, position the bank better vs. competition. 2) Co-lending share has grown swiftly to ~13% of overall loans; growth here is now likely to be similar to overall loans. Co-lending is slightly NIM dilutive, but has significantly higher RoE. 3) Given the lead-lag on interest rate, NIM may experience pressure, but DCB expects fee/treasury gains and contained opex to cushion the impact. 4) While a large part of the rise in gross slippages (vs. pre-Covid-19) is related to gold loans (minimal impact on credit costs), the bank aims to further tighten its underwriting. ICICI Securities maintain BUY
Indian Express
4 days ago
- Indian Express
Lawrence Bishnoi gang member arrested in Udaipur: Gujarat Police
The arrest of a man for illegal possession of a country made pistol led the Gujarat Police to an alleged member of the Lawrence Bishnoi gang, who was apprehended from Udaipur in Rajasthan on Wednesday, the Detection of Crime Branch (DCB) said. The accused has been identified as Manoj alias Chakki Shankarlal Salvi (21). According to the Crime Branch, on June 14, the Gujarat Anti-Terrorist Squad (ATS) had arrested Rupalal Bhanwarlaal Salvi from the road outside Shivalik Complex in Panchvati area of Ahmedabad. He was found in possession of an illegal country made pistol and a cartridge, police said. An FIR under the Arms Act was filed against him at Ellisbridge police station. During interrogation, Rupalal allegedly told the police that the weapon had been given to him by Manoj, leading to a manhunt and subsequent arrest from the neighbouring state. He was handed over to Ellisbridge police for further action. Police said that in the past, 11 cases were lodged against Manoj – nine in Rajasthan and two in Delhi. Previously, he was also arrested in the conspiracy and murder of Sukhdev Gogamedi, the then head of the Karni Rajput Sena, said a senior police officer. Notably, Bishnoi is currently in judicial custody at Sabarmati Central Prison in Ahmedabad.
Time of India
4 days ago
- Time of India
Cyber scam busted in Surat; 2 held in hotel raid, crores routed via crypto and Telegram banking bots
The Detection of Crime Branch (DCB) in Surat has busted an international cybercrime racket suspected to have links with China, Pakistan, and Myanmar, following a raid at a hotel near Surat railway station. Tired of too many ads? go ad free now Two youths from Jodhpur were arrested and digital evidence recovered points to a multi-crore scam involving cryptocurrency and mule accounts. The accused — Ramswarup Bishnoi and Sagar Bishnoi, both aged 20 — were staying at Janta Inn Hotel in Mahidharpura. Acting on a tip-off, the DCB team detained them from Room 409 and seized eight mobile phones, SIM cards, Aadhaar documents, diaries, and multiple bank account kits, according to TOI report. A preliminary probe found several crores worth of transactions, including large USDT (Tether cryptocurrency) transfers. The duo had reportedly travelled to Surat to purchase bank accounts for fraudulent use in online financial schemes. Police said the devices contained up to 19 email IDs per phone, linked to various banking apps and suspicious transaction histories. Accounts across multiple banks — including SBI, Bank of Maharashtra, City Union Bank, Northeast Small Finance Bank, Federal Bank, and Ujjivan Small Finance Bank — were flagged. Digital forensics also uncovered involvement with Telegram-based cyber networks, notably a bot group named 'Bookkeeping Robot Ram', allegedly used to transmit account credentials to foreign handlers. An FIR has been registered against six accused — five from Jodhpur and one from Surat. The arrested men reportedly came into contact with the main accused, Pramod Bishnoi, in February 2025, who introduced them to crypto trading fraud. Tired of too many ads? go ad free now Police said Pramod facilitated their link with Sanjay Gabu, a Surat-based operative who allegedly sold them 193 bank accounts. The data — including account kits and MPINs — was then forwarded to Gnan Bishnoi and Shyam Bishnoi in Jodhpur, who uploaded it to the Telegram group run by Chinese handlers. Once funds were deposited into these accounts, cash withdrawals were executed and routed via courier Vishnu Angadiya to Jodhpur. There, it was converted into cryptocurrency via the Binance app and moved offshore. The DCB has also conducted follow-up raids at multiple Surat locations and detained other suspects as the investigation continues into the foreign-controlled cyber laundering network.
Time of India
6 days ago
- Time of India
Four promised jobs with LIC, duped of Rs 46.5 lakh in Ahmedabad
Ahmedabad: The dream of a secure future turned into a costly nightmare for four temporary workers. They were duped out of Rs 46.5 lakh by a Paldi resident who had promised to get them permanent jobs at the Life Insurance Corporation (LIC) office on Relief Road. In a complaint filed with the Detection of Crime Branch (DCB) on Sunday, Bipin Makwana, who works as a security guard outside the LIC office, named Chikesh Shah as the accused. The 57-year-old told police that he met Shah in 2023 at a nearby Jain temple. Over time, Shah gained Makwana's trust. He claimed to have strong connections and offered to get permanent jobs with the LIC for Makwana and his friends. On April 30, 2023, Makwana and his three friends met Shah at Sampurna Hall in Kankaria, where Shah reportedly explained the job offers and demanded money according to each person's post. The smallest amount was Rs 10,000, Makwana told police. The group started collecting money and, allegedly, made the first payment of Rs 5 lakh in cash on April 13, 2023. Over the next few months, they allegedly paid cash to Shah in instalments. In two more meetings held on Jan 2 and Feb 2, 2024, Shah promised the men that permanent orders would be issued soon. Later, Shah gave a notarised declaration on Nov 26, 2024, with a cheque and a written assurance that the work would be completed by Jan 31, 2025. However, no job order was issued. A case was registered with the DCB police station under IPC Sections 406 and 420 for breach of trust and cheating. The Economic Offence Wing (EOW) began an investigation into the case.
