Programmes to support early-stage startups, women entrepreneurs to be launched: CM Siddaramaiah
Bengaluru, Feb 16: Karnataka Chief Minister Siddaramaiah in his budget speech on Friday proposed to launch three new programmes aimed at maintaining Karnataka's top position in the startup ecosystem, particularly to support early stage startups and women entrepreneurs.
Presenting the state budget for 2024-25 in the legislative assembly, Siddaramaiah announced Rajiv Gandhi Entrepreneurship Programme an early-stage funding programme that nurtures ideas and innovations to promote innovative endeavours and startups founded by students or inexperienced entrepreneurs.
These programmes will also include a new initiative to support early stage women entrepreneurs with a sector-wise and targeted approach. To promote agriculture startups in the state, five acres of land will be provided to C-Camp Agri innovation Park, the chief minister said.
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"Karnataka has been a pioneering state in the field of technology. To expand the state's footprint in this sector, a Centre of Excellence in Fintech, Space-tech and Automation Tech at a cost of Rs 10 crore will be set up over a period of five years in collaboration with entrepreneurs and educational institutions," the chief minister said.
Bengaluru has more than 400 Global Capability Centres. In order to attract higher investment in this sector, it is proposed to introduce a new Global Capability Centre Policy in the current year, he said.
"Karnataka Innovation of Technology Solutions, in collaboration with KEONICS, will establish skilling and innovation centres in emerging technologies across Kalaburagi, Shivamogga, Hubbali, and Tumakuru, at a budget of Rs 12 Crore," he added.
An Institute of Advanced Genome Editing and Gene Therapy will be established to promote study and research in genomics in the state which aims to become a hub for cutting-edge research in health, agriculture and other areas of life sciences, he said.
The Karnataka government will launch a AVGC-XR Policy 3.0 for the period 2024-2029, with an ambitious aim of generating 30,000 new high-quality jobs in this sector. There will be a new investment of Rs 150 crore towards this, Siddaramaiah said.
To showcase the growth of science and technology and to promote science education, a science city at Bengaluru will be established in association with the Government of India at total cost of Rs 233 crore.
"Karnataka holds the top position in terms of industrial growth. To maintain its top position and to attract more investment, New Industrial Policy will be formulated in the current year. Global Investors Meet will be organised in February-2025 to attract greater foreign investment into the state," Siddaramaiah said during his speech.
The industrial estates existing in various districts will be upgraded through Karnataka State Small Industries Development Corporation in collaboration with the central government at an estimated cost of Rs 39 crore.
An industrial node will be developed near Dharwad in 6,000 acres of land under the Bengaluru-Mumbai economic corridor programme in collaboration with the central and state government. This will resolve the unemployment problem of the North Karnataka region and encourage economic development, he said.
The New Textile Policy 2024-29 will be formulated for the development of the textile and weaving sector, the chief minister announced. Through this, a capital investment of Rs 10,000 crore is expected along with generation of two lakh jobs. This policy will also promote greater investment and employment opportunities, he added.
The chief minister also announced that mini textile parks will be set up in 25 districts of the state for which subsidy will be provided with the existing policy.
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Delhi Police busts Rs 300 crore international cyber fraud syndicate, arrests mastermind
New Delhi (PTI): The Delhi Police has busted a major international cyber fraud syndicate -- linked with over 2,000 complaints and scams worth over Rs 300 crore -- with the arrest of its alleged mastermind and 10 others, an official said on Sunday.
During the investigation, police uncovered a well-organised network operating across multiple states with links to international cyber fraud syndicates, particularly in Cambodia.
"We have so far identified over 260 bank accounts linked to more than 100 fictitious companies used to channel the proceeds of crime. The total number of complaints linked to the syndicate stands at 2,567," police said.
The key accused, Karan Kajaria, was apprehended at Kolkata airport on April 3 after a Look Out Circular was issued against him. He was brought to Delhi a day later for further investigation, Deputy Commissioner of Police (Crime Branch) Aditya Gautam said.
The case came to light following a complaint by a city resident, Sultan, who alleged that he was duped of Rs 31.45 lakh after being lured into an investment scheme.
Police said the victim was persuaded to download a fake trading application and invest money with promises of high returns. However, when he attempted to withdraw the profits, the application stopped functioning, and the group became inaccessible.
"An FIR was registered at the cyber police station in northeast and later transferred to the crime branch for a detailed probe," the officer said.
The syndicate created fake investment platforms and messaging groups to lure victims. They used mule bank accounts arranged through intermediaries and deployed malicious applications to capture sensitive banking details, including OTPs. Funds collected from victims were routed through a complex web of bank accounts and shell companies to conceal the trail, police said.
"Kajaria, who is believed to be the main coordinator, maintained direct links with foreign-based operators and facilitated the movement of funds through cryptocurrency channels,' the DCP said.
He acted as a bridge between Indian operatives and international cyber criminals. He was also involved in procuring mule bank accounts and sharing sensitive banking details via encrypted social media platforms, the DCP added.
Police said Kajaria frequently travelled abroad to establish and strengthen links with overseas fraud networks and had attempted to evade arrest by staying outside India.
Technical surveillance helped investigators trace the network to Kolkata, where several bank accounts and shell entities were found to be operating. Upon his arrival in India, Kajaria was intercepted at the airport and taken into custody.
During interrogation, he allegedly confessed to his involvement in the syndicate, police said, adding that accounts linked to his network were associated with more than 2,500 complaints registered on the National Cybercrime Reporting Portal and fraud of Rs 300 crore, the DCP said.
The investigation revealed that the syndicate had been active for the past four to five years and operated on a large scale across multiple states.
During the crackdown, police recovered 48 mobile phones, 258 SIM cards, multiple ATM cards and cheque books, four laptops, and several banking and KYC documents. Funds amounting to Rs 19 lakh have also been frozen. A total of 11 accused have been arrested in the case so far, police said, adding that further investigation is underway to identify other members of the syndicate.
