India, Aug. 6 -- The Noida police on Tuesday busted a gang in Sector 16 that allegedly offered loans at zero percent interest rate and also sold insurance policies to secure the amount, officers said, adding that they have arrested 11 members of the group who duped thousands in the last three years.

To gain trust, the suspects sold policies of four major insurance firms and received 40 to 50% commission on each policy worth around Rs.50,000 to 3 lakh. Their arrests followed a tip off about such a call centre operating from Sector 16, said officers.

"On Monday, we arrested 11 people identified as Vikram Singh, Aman Kumar, Keshav Kumar Jha, Arman Chaudhary, all residents of Ghaziabad; Mohit Kumar, Firoz Khan, Rahul Kumar, Akshay Mishra, P...