A New SBI Scam Is Going On
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Welcome to Thursday! As we approach the weekend, let’s tackle today’s lessons and fuel the drive for an epic finish. You’re almost there—let’s crush it!
But before we start, here’s a dose of positivity for you:
“The only limit to our realization of tomorrow is our doubts of today”
Now, let’s get started with the BUSINESS UPDATES…
📌 Oyo investors look to sell stake
Early investors in Oyo, like Lightspeed Venture Partners and Peak XV Partners, are selling parts of their stakes in the company, valuing it at around $3.9 billion. Peak XV recently made $80–90 million from a small sale, adding to the $500 million it already earned from earlier exits.
Oyo’s recent growth and profitability have attracted interest from family offices, which are groups managing money for wealthy individuals. These investors are optimistic because Oyo recently bought G6 Hospitality (owner of Motel 6) for $525 million, a move expected to boost profits significantly. Founder Ritesh Agarwal is also investing ₹550 crore more into the company.
📌 Beware of this new SBI scam
Fraudsters are sending messages claiming you can redeem SBI reward points by downloading an app, but it's a trap to steal your personal data.
What's Happening?
A message says your SBI reward points (e.g., ₹9980) will expire soon and asks you to download an app via a suspicious link.
If you download the app (an APK file), hackers can take control of your phone and steal sensitive information.
What's an APK File?
APK files are used to install apps on Android devices.
Only download apps from trusted sources like the Google Play Store. APKs from random links can be dangerous.
How to Protect Yourself:
Ignore fake messages: Delete them right away.
Don't click on unknown links: They could lead to harmful files.
Install apps only from official stores: Like the Google Play Store.
Keep your banking details private: Don’t share OTPs, card numbers, or passwords.
Report suspicious activity: Use the Cyber Crime Helpline (1930) or visit cybercrime.gov.in.
If you’ve been tricked, act fast and report it immediately.
📌 Rail Budget may see up to 20% hike
Indian Railways is set to get a 15-20% increase in funding in the upcoming budget, taking its total capital expenditure for FY26 to over ₹3 lakh crore (up from ₹2.65 lakh crore this year).
The money will be used for:
Upgrading railway tracks and stations.
Launching modern trains like Vande Sleeper trains for longer, more comfortable journeys.
Speeding up big projects like the Mumbai-Ahmedabad bullet train.
This year (FY25), Railways has already spent most of its allocated ₹2.65 lakh crore, with:
₹1.2 lakh crore for new tracks, doubling existing lines, electrification, and metro transport.
₹50,903 crore for buying trains, wagons, and engines.
₹34,412 crore to improve safety.
The government is also working with private companies through public-private partnerships (PPP), which helped achieve nearly 90% of the ₹10,000 crore target this year.
📌 Oh, and are banks closed in your state today?
Bank holidays in India differ by state. On January 16, 2025, banks in Tamil Nadu will be closed for Uzhavar Thirunal, a harvest festival celebrating farmers and cattle. However, banks in other states will be open as usual.
Before visiting your bank, check your state's holiday schedule. To avoid inconvenience, consider using digital banking services for tasks like money transfers, bill payments, and more.
Other Bank Holidays in January 2025:
January 23: Banks will be closed in states like Kolkata, Bhubaneswar, and Agartala to honor Netaji Subhas Chandra Bose's Birthday.
Banks are also closed on the 2nd and 4th Saturdays of the month.
So, that’s it for today.
See ya 👋
