Personal loan, Sept. 24 -- Four persons were arrested recently for cheating an interior decorator of Rs.97.75 lakh in Thane under the guise of arranging a business loan through CSR funds.

The accused had promised him aloan of Rs.2.75 crore from funds under the CSR, but managed to cheat him of his money. It's quite a sad sequence of events and speaks volumes of ignorance on the part of the loan applicant.

I. Loan applications are approved on a case-by-case basis: Typically, loans are approved based on the credit score and the ability of borrowers to repay the loan on time. If the loan is taken for business, generally, the lender may evaluate based on the business plan. But no lender will ask for the money to be given before the loan's ap...