World Bank lowers India’s FY24 growth forecast to 6.3 per cent

News Network

April 4, 2023

The World Bank on Tuesday said it has lowered its forecast for India's economic growth in the current fiscal year that started on April 1 to 6.3 per cent from 6.6 per cent.

Due to shrinkage in consumption on back of slower income, India’s gross domestic product (GDP) growth will likely moderate to 6.3 per cent in FY2024, said a report by the World Bank on Tuesday.

The India Development Update by World Bank stated that the country’s retail inflation will see a moderation from 6.6 per cent to 5.2 per cent in FY2023-24. The World Bank update added that India’s Current Account Deficit (CAD) expected to be at 5.2 per cent in FY24.

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Mangaluru: Man duped of Rs 1.7 cr by fake TRAI, CBI officials

News Network

November 22,2024

Mangaluru: A man fell victim to an online scam, losing Rs 1.7 crore after fraudsters posed as officials from TRAI. According to a complaint filed at the CEN police station, the incident began on November 11, when the complainant received a call from an unknown number at 9:49 am.

The caller, claiming to represent TRAI, alleged that another mobile number registered under the complainant's name was involved in illegal activities in Andheri (East), Mumbai. The caller further stated that an FIR was lodged against the complainant for harassment under the guise of marketing. He was instructed to contact Andheri (East) police station immediately or risk his mobile service being deactivated within two hours.

The complainant was subsequently connected to an individual named Pradeep Sawant, who claimed the complainant was implicated in a money laundering scheme linked to the Naresh Goyal fraud case. Sawant alleged that a fraudulent bank account under the complainant's name was opened at Canara Bank, Andheri, and used to purchase a SIM card for illegal activities. He warned that the complainant could face arrest.

Later, the complainant was contacted via WhatsApp video call by individuals posing as Rahul Kumar (a police officer) and Akanksha (a CBI officer). They allegedly sent fabricated CBI documents to his WhatsApp number. The fraudsters demanded money to "resolve" the case. Fearing threats, the complainant allegedly transferred Rs 1.7 crore through RTGS in batches of Rs 53 lakh, Rs 74 lakh, and Rs 44 lakh between November 13 and 19. A case has been registered at the CEN police station and an investigation is ongoing.

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