Bogus financial companies are luring common people by offering loans with low rate of interest and vanishing subsequently after collecting processing charges. This has been happening for sometime online and many people from the city lost their money who deposited into their personal accounts.
“I had applied for a loan from a Delhi-based company which offered three per cent flat interest per annum. I have lost Rs.30,000 till now and I am unable to locate at least their address,” said Mr K. Appa Rao of Jagadamba centre.
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