Citizens' Issues
Stockguru investment fraud: Delhi Police likely to approach SEBI

Delhi Police's EOW is likely to seek help from the ED in the multi-crore Stockguru India stock market investment scam

New Delhi: Delhi Police are likely to approach market regulator Securities and Exchange Board of India (SEBI) in connection with investigations into a multi-crore stock scam in which a couple was arrested, reports PTI.
Nagpur-resident Ulhas Prabhakar Khaire and his wife Raksha J Urs were arrested from Maharashtra's Ratnagiri town on Saturday by sleuths of Delhi Police Economic Offences Wing (EOW) for duping over two lakh people from Delhi, Uttarakhand, Himachal Pradesh, Sikkim, Rajasthan, Madhya Pradesh and Maharashtra. They promised investors high returns on their investment through their firm dealing in stock market.
Sources said City Police's Economic Offences Wing is also likely seek the help of Enforcement Directorate (ED) for further probe.
Investigators said there could be more arrests in the case while efforts were on to ascertain whether the couple had stashed money abroad.
It also came out during investigations that the couple owned eight flats in Dwarka, one each flat in Bhiwadi (Haryana), Alwar (Rajasthan) and Muradabad in Uttar Pradesh as well as a mansion in Goa.



Vaibhav Dhoka

5 years ago

SEBI will tell police that STOCKGURU is not registred with SEBI and therefore it is NOT in its JURISDICTION to to take action,as we DONT take ACTION on registred brokers how can we take action on non registred ENTITIES such as STOCKGURU.WE AT SEBI ALWAYS SEE NO SCAM,HEAR NO SCAM,AND SPEAK OF NO SCAM as depicted by THREE monkeys of Mahatma Gandhi Father of Nation.All are using name of Mahatma to fill his pocket.
It is a procedure followed IN INDIA to refer case to other authorities to kill time and prolong matter so that aggrieved investors are calmed down.


5 years ago

When Delhites are defrauded it is a big news in our National Media. But crores of rupees were looted from other parts of the country by the MLM cheats but it does not have any news value for our Delhi based National Media.

SBI Group controls about 59% ATMs in India

SBI and its five units have installed 61,500 ATMs, while private sector and foreign banks put together have about 41,800 ATMs and co-operative banks and regional rural banks have 1,150 machines, out of over one lakh ATMs in the country 

Mumbai: The National Payments Corporation of India (NPCI) has said the banking system has reached a landmark of one lakh automated teller machines (ATMs) at the end of October, reports PTI.
The State Bank of India (SBI) Group, comprising country's largest lender SBI and its five subsidiaries, has a network of 61,500 cash vending machines which help it account for a majority 59% share in the ATMs.
NPCI, which has been promoted as an umbrella organisation for retail payments by the Reserve Bank of India (RBI) and banks, said as of October-end the total number of ATMs stood at 1,04,500.
The organisation operates the National Financial Switch used for inter-connectivity between banks for ATMs. Also, banks individually report their ATMs in the network section in their quarterly reports.
Banks started installing ATMs in the late 1990s and have over time replaced the tedious efforts taken to withdraw cash at a branch, which would have to be done only in the business hours.
Many banks have extended the ATM to do other transactions like fund transfer, donations to charities, cheque and cash deposits etc.
According to the NPCI, private sector and foreign banks put together have about 41,800 ATMs accounting for 40% of the network, while co-operative banks and regional rural banks have 1,150 machines, representing 1% of the system.
Nearly 200 million transactions are processed every month through the NFS, the NPCI statement said, adding 75% of this are simple cash withdrawal transactions.
The average ticket size of withdrawals stands at Rs3,300, it added. The balance 25% transactions, NPCI said, are non-financial transactions.
All the banks put together have plans to install additionally about one lakh ATMs over a period of next two years, the NPCI said, noting that this will take up the average to 170 ATMs per million population from the current 85.


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