Passports as collateral

A mobile phone shop hit upon a novel idea to secure the money he loaned to foreign students

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Business Standard
Last Updated : Apr 11 2017 | 10:45 PM IST
A mobile phone shop owner in Bengaluru hit upon a novel idea to secure the money he loaned to foreign students — he kept their passports as collateral. This worked well till a police team raided his shop. Even the police were shocked by what they found: 175 of those 341 passports were well past their expiry dates. They were intrigued as to how those students went about their daily lives without their passports. The hunt is now on to locate those students.

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