The economic slowdown now seems to force people towards crime. Two people, holding a degree in MBA and MCA each, have been arrested by the police for acting as bank employees and thereby offering pre-approved loans to the customers.

The two accused named Somendra Shukla (30) and Sandeep Saini (34) have been caught offering pre-approved loans to entrepreneurs in Connaught Place, New Delhi. They contacted a manufacturer and supplier of gift items, Lalita posing to be officials of YES Bank and offered her a pre-approved loan of Rs 10 lakh at a very low rate of interest. She accepted their offer following which she was asked to complete some formalities.

A senior police officer said, "She was asked to fill up the application form for the loan. They also asked for seven blank cheques signed by her on the front of the cheques for EMIs. They assured her that a loan amount of Rs 10 lakh will be deposited in her account."

However on April 17th, Lalita found that an amount of Rs 35,000 had been withdrawn from her account by some person called Satya Singh. She thereby informed her bank to stop the payment on the remaining six cheques and also filed a compliant with the police.

Now when the accused, Sandeep Saini tried to withdraw money using the second cheque, he was caught and thus arrested by the police. Following his arrest, a raid was conducted on his instance and his partner Somendra Shukla was also arrested by the police.

Further fake rubber stamps, driving licenses, computers, printers and remaining cheques signed by Lalita were seized by the police during the raid.