Open Loot under the nose of RBI

and even the SC approves of this!

My wife was offered a pre-approved personal loan of 1,56,000 by IDFC Bank. She had never approached this bank nor had applied for such a loan at any time. She had used the Buy-Now-Pay-Later scheme to purchase a mobile phone where a staff member had requested her to apply in her name and he would pay the installments. Ever since then she has been getting…