Hyderabad man loses ₹1.73 lakh trying to get 0% interest loan on insurance policy worth ₹10 lakh

A 62-year-old businessman fell victim to a scam promising a 0% interest loan on an insurance policy worth ₹10 lakh. The fraudsters posed as representatives of Bajaj Finance Company and convinced the victim to transfer money for various insurance policies, totaling over ₹1.73 lakh. Despite the payments, the promised loan was never approved. The victim reported the scam to the Hyderabad Cybercrime police, who are currently investigating the case. It serves as a reminder to be cautious of such offers and always verify the legitimacy of the companies involved before making any financial transactions.