Latest news with #Singh
Hindustan Times
3 hours ago
- Business
- Hindustan Times
Panchkula man loses ₹19 lakh in online trading scam
A 56-year-old resident of Officer Transit Flats in Sector 12, lost ₹18.79 lakh to cyber fraudsters, police said. Jagminder Singh mentioned in his police complaint that he came across an online trading advertisement on Facebook promising daily profits of 10% to 20%. After he shared his personal details online, he received a WhatsApp message from a woman who identified herself as Aarti Bhalla, claiming to be an assistant to some trading expert from Kotak Securities Limited. He was added to a WhatsApp group containing approximately 150 members where discussions revolved around profits from stock trading with specific buy and sell recommendations daily. After a few days, Bhalla directly messaged Singh and shared a link to download an app — Kotak QIB — where he got himself registered. On May 16, he transferred ₹50,000 to buy shares. He further paid ₹10 lakh on May 18. Following instructions, he sold his initial shares on May 19 and the app's balance reflected a profit of ₹58,727. Encouraged by this, he paid them ₹60,000 on May 19, ₹1.99 lakh on May 20, ₹1 lakh on May 22, ₹2 lakh on May 26, ₹70,000 on June 3 and ₹11 lakh on June 4, bringing his total investment to ₹18.79 lakh. The app then showed a total profit of ₹1.10 crore. When Singh attempted to withdraw ₹1.20 lakh on June 10 for his son's marriage, he was unable to do so. Upon inquiring, the fraudsters informed him that his entire invested amount was invested/pledged in IPOs and that attempting to withdraw it would constitute a breach of contract, incurring a heavy penalty. When Singh explained he needed the money for his son's wedding, they demanded an additional ₹8 lakh to facilitate the withdrawal of the entire amount. Since no money was left with him, he discussed it with his son and the police complaint was registered. The cyber crime police station said an FIR was registered and further investigation was underway.
New Indian Express
4 hours ago
- Business
- New Indian Express
‘Circular Railway DPR around Bengaluru to be ready by August'
BENGALURU: The Detailed Project Report (DPR) for the 288-km Circular Railway Project around Bengaluru will be completed and submitted to the Railway Board by August 2025, stated Divisional Railway Manager, Bengaluru Division, South Western Railway (SWR), Ashutosh Kumar Singh, on Thursday. Singh said the DPR is part of a larger push to expand rail infrastructure. The project is designed to decongest urban traffic through a seven-leg rail network circling the city. Final Location Survey has already been sanctioned, and DPR preparation is under way. Addressing the delays in the Bengaluru Suburban Rail Project (BSRP), the SWR officials clarified that while the project is managed by K-RIDE, the Railway division has provided all requested land for Corridors 2 and 4 of the total 4 corridors. 'For Corridor 1, the process is still on. Once it's finalised, we will hand it over,' an official said. Meanwhile, the KSR Railway Station is set to receive two additional platforms, to the existing 10 platforms, at an estimated cost of Rs 222 crore. The expansion will involve the demolition of a portion of the MG Railway Colony, and a fourth entrance to the station is also planned. Other major infrastructure upgrades include the redevelopment of the Bengaluru Cantonment Station at a cost of Rs 484.58 crore, and the ongoing quadrupling of the 38-km Bengaluru Cantonment-Whitefield section.
Time of India
4 hours ago
- Business
- Time of India
PFC, REC shares rally 4% as RBI eases provisioning norms for project financiers
Shares of project financiers PFC and REC jumped up to 4.5% on Friday after the RBI issued its final directions on project financing, replacing multiple legacy circulars and aligning norms across banks, NBFCs, and co-operative banks. PFC shares rallied as much as 4.5% to Rs 407.45, while REC rose 3.5% to a day's high of Rs 396.95. 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 "In comparison with the May 2024 draft proposal of 5% standard asset provisioning for under-construction projects, the 1.0%/1.25% provisioning for Infra/CRE projects under the final regulations provides a much-needed breather to project financiers, including REC and PFC," said Avinash Singh, analyst at Emkay Global . The guidelines, he noted, are positive for project finance lenders and remove the overhang caused by the May 2024 draft directions. "For power sector NBFCs (REC and PFC), even a minor impact of these directions, in the context of additional standard asset provisioning, will be absorbed through impairment reserves and exert no pressure on PAT or net worth. However, regulatory capital will see some impact—though minimal and likely only from FY27—as the guidelines apply only to loans achieving financial closure on or after October 1, 2025," Singh added. Live Events While the 2024 draft norms had proposed stringent provisioning (up to 5%) and stricter upgrade criteria (360-day performance requirement), the final guidelines have significantly relaxed these provisions, resulting in minimal impact on banks' profitability and balance sheets. Motilal Oswal also stated that the revised norms will have a negligible impact on bank and NBFC profitability, as the existing loan book remains unaffected. "The RBI's final project finance guidelines are a positive for banks and NBFCs, especially compared to the stricter 2024 draft. The most notable relief comes from significantly eased provisioning requirements—reduced to just 1% during construction (versus 5% proposed earlier) and as low as 0.4% post-DCCO. This reduces capital drag while maintaining prudence. Overall, the final norms strike a balanced approach, enabling continued flow of project finance with minimal impact on lenders' profitability or balance sheet strength," the brokerage said.
Time of India
6 hours ago
- Time of India
'Neither had helmets on': How a midnight joyride on Rs 9-lakh Ducati Scrambler turned fatal for two young professionals in Noida
In Greater Noida West, a fatal accident occurred when a speeding Ducati Scrambler, carrying two young professionals, crashed into a construction pit near Char Murti roundabout. Ankur Singh and Kashish, neither wearing helmets, died after the bike rammed through a guardrail. NOIDA: A midnight joyride on a high-end Ducati Scrambler turned fatal for two young professionals in Greater Noida West on Tuesday when the speeding bike rammed through an iron guardrail and plunged into a 7-foot-deep pit dug up for an underpass project near the busy Char Murti roundabout. Neither was wearing a helmet. The victims, Ankur Singh (28) and his friend Kashish (25), had stepped out for a late-night spin. Singh picked her up from her flat in 14th Avenue society around 2.30am, just minutes before the crash. They were likely headed to his residence in Panchsheel Green 2, also in Noida Extension. Police said Singh, who was riding the Ducati, may have lost control at high speed. 'The bike smashed through the guardrail and fell into the pit. It appears both victims landed on construction machinery or debris inside, sustaining grievous injuries,' a senior Bisrakh police officer said. Sandbags placed behind the guardrail failed to absorb the impact. Both Ankur and Kashish were rushed to the District Hospital in Sector 39 but were declared dead on arrival. 'They were brought in with severe trauma. Neither had a helmet on,' said hospital CMS Dr Renu Aggarwal. The Ducati, a premium model worth around Rs 9 lakh, remained largely intact after the fall, police said. With no eyewitnesses at that hour, investigators are now scanning CCTV footage from nearby areas and examining the crash site to reconstruct events. Kashish's family was on its way from Allahabad by Tuesday evening, while Singh's relatives hadn't yet been contacted, police said. The spot where the accident occurred, Char Murti roundabout, also known as Gaur Chowk, is at the heart of a major infrastructure revamp in Greater Noida West. A 700-metre-long underpass is being built to ease congestion on the Taj Highway, connecting Gaur City to the Delhi-Meerut Expressway. Greater Noida Authority officials said diversion signage and metal barricades were already in place. 'It seems the vehicle was at high speed. We've directed immediate upgrades to the site — reflective tapes, better-lit zones and reinforced barriers. A coordination meeting with traffic police is also being scheduled to post night-time personnel,' said Prerna Singh, additional CEO of GNIDA. Experts say poor visibility, unbarricaded construction stretches and high-speed biking — often without protective gear — have led to a spike in road fatalities. UP alone saw 13,000 crashes and nearly 7,700 deaths between January and May this year. Noida accounted for 1,165 accidents and 462 deaths in 2023.
Hindustan Times
6 hours ago
- Climate
- Hindustan Times
PCMC on alert for monsoon, palkhi processions
Following heavy rains, the Pimpri Chinchwad Municipal Corporation (PCMC) has activated a coordinated emergency response to ensure safety of citizens and smooth conduct of the Sant Dnyaneshwar and Sant Tukaram palkhi processions, said officials. All zonal control rooms are operating 24x7 with dedicated teams in three shifts, according to statement released on Thursday. The fire and emergency services department has stationed over 15 rescue boats and 200 life jackets across various zones to handle any emergency. Flood-prone areas near the Pavana and Indrayani rivers are under constant surveillance, they said. Shekhar Singh, municipal commissioner, PCMC, said, 'We have anticipated such weather conditions and deployed teams, equipment, and control mechanisms accordingly.' Civic teams are working in mission mode to ensure smooth and safe passage for warkaris. Singh has directed departments to ensure zero waterlogging along the palkhi route. Emergency response units with mechanised equipment have been deployed at critical points across Bhosari, Dighi, and Nigdi. Citizens are advised to alert flood control room 020-67331111/020-28331111 for emergency situation.
