Woman dupes people with promise of interest free RBI loans

NT Correspondent

Bengaluru: A woman hailing from Hosur in Tamil Nadu was arrested by the Attibele Police for allegedly cheating residents to the tune of crores of rupees by misusing the name of Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) ,claiming to have secured Rs 17 crore funds for her trust from the Central government.

According to the police, the accused identified as Pavitra Amresh allegedly cheated several residents of Anekal, Chandapura, Surya Nagar, Hoskote and Attibele claiming that her trust had got funds from the Central government and that they are also getting funds from the United States.

The accused further claimed that the funds will be given out as loans and promised as much as 50 per cent in subsidy.

Pavitra convinced people that if they took a loan of Rs 10 lakh, they would have to repay only Rs 5 lakh, but to avail these interest-free loans, the people would first have to deposit the initial amount.

Falling to fraud, many people especially women started paying up anywhere between Rs 5,000 and Rs 25,000 right from 2019.

The scam came to light when the investors began to seek the promised loan amounts recently.

The residents who have been cheated lodged a complaint at the Attibele police station following which an FIR was registered against the accused and 13 others in connection with the case.