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Subscribed with another email? Logout and Login with that one. Account subscription benefits alongside Premium Stories, Editorials, Opinions and more. Unlock these with Subscription Published - June 26, 2026 01:24 am IST - HYDERABAD Two individuals were arrested by the cyber crime wing of Cyberabad police in connection with a visa extension fraud case. Police said ₹9.6 lakh collected from victims through false promises of securing long-term visa extensions was recovered. The accused were identified as Arjun Reddy, 38, a native of Guntur in Andhra Pradesh, and Anjaiah Reddy, 45, from Narasaraopet in Palnadu district. The case came to light after a woman complained that the accused had promised to secure a long-term visa extension for her daughter and assured her that the money would be refunded if the process failed. Police said the accused continued to provide false updates on the visa process, collected personal documents from the victim and later demanded additional payments. They subsequently stopped responding and neither processed the visa nor refunded the money. According to police, the accused contacted victims through acquaintances and social media platforms, lured them with promises of long-term visa extension services and collected money in the name of processing fees.
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Two arrested in Cyberabad visa extension fraud; ₹9.6 lakh recovered
A consortium of financial giants are taking aim at the top two stablecoin issuers. On Tuesday, Open Standard, a company that says it’s partnered with Stripe, Visa , BlackRock and over 140 other businesses, announced that it will launch a new stablecoin called Open USD, or OUSD. The two largest stablecoin issuers, Tether and Circle, are notably not part of the new consortium. OUSD will launch later this year and is structured to return most reserve revenue, or interest earned on the assets backing it, minus a small management fee, to participants. Open Standard did not disclose on which blockchain the stablecoin will operate. “It’s a stablecoin built for the internet economy, designed by the businesses growing it,” Zach Abrams, interim CEO of Open Standard, said in a statement. Abrams is also the cofounder of the stablecoin startup Bridge, which Stripe acquired for $1.1 billion in 2025. The new initiative appears to be a serious challenge to Tether and Circle, which have long dominated the market for stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar. In April, Tether’s stablecoin, USDT, accounted for about 62% of the stablecoin market, while Circle’s USDC held roughly 25%, according to a report from the crypto analytics company CoinGecko. Circle’s stock slipped 13% after the announcement and now trades at $66 per share. “We welcome continued innovation and competition in the space,” Circle CEO Jeremy Allaire wrote on X following the announcement. “Welcome OUSD. Player 2 has entered the game,” wrote Tether CEO Paolo Ardoino.
Subscribed with another email? Addressing this restriction is essential to unlocking growth, enhancing competitiveness, and strengthening India’s position in global tourism flows, it said. On the demand side, despite progress through mechanisms such as e-visa, India’s visa regime has not yet evolved to match the accessibility, scale, and user experience offered by leading tourism economies, it noted. Scaling visa facilitation in line with global benchmarks will be critical to enhancing India’s international accessibility and competitiveness, it said. On the regulatory front, rationalising requirements, eliminating redundancies, and streamlining approval processes can significantly improve the ease of doing business in tourism. The Tourism Ministry also signed a memorandum of understanding (MoU) with Google India Pvt. Ltd. on Tuesday (June 30) to strengthen the digital promotion of India’s tourism destinations through the use of the latest technologies, artificial intelligence, data-driven insights, and capacity building. The MoU establishes a framework for collaboration between the Union Ministry and Google India in key areas including knowledge sharing, capacity building, and the use of emerging technologies for enhancing visitor engagement. Shekhawat said, “Digital technologies have the potential to create immersive experiences that can showcase the glory and grandeur of India’s cultural sites to audiences across the world. By harnessing cutting-edge digital technologies, we can transform the way travellers discover, experience and engage with India’s rich cultural and natural heritage.” Terms & conditions | Institutional Subscriber Comments have to be in English, and in full sentences.
