How bank staff orchestrated a Rs 4.74 lakh pre-approved loan fraud in Gurgaon

This report covers key India-focused updates related to loans, EMI, interest rates and banking. How bank staff orchestrated a Rs 4.74 lakh pre-approved loan fraud in Gurgaon Police bust racket involving Deputy Manager of RBL Bank and Axis Bank employee; four arrested so far On December 6 last year, Dinesh Kumar (33) was taken aback when he saw an unauthorised deduction of Rs 12,585 from his Axis Bank account. On enquiring with the bank, Gurgaon Police said, he discovered that an unidentified person had changed his registered mobile number and fraudulently taken a loan of approximately Rs 4.74 lakh in his name. The deducted amount was the first EMI of the unauthorised loan.