How instant loan apps are extorting borrowers in Telangana How instant loan apps are extorting borrowers in Telangana | India Today Insight The Telangana police have made 11 arrests following growing complaints by loan seekers of harassment at the hands of dubious loan companies advertisement Illustration for representational purposes (Siddhant Jumde) D.S. Aravind, a resident of Hyderabad, borrowed Rs 3,500 from an instant loan app in November, but the finance company, MyBank app, disbursed Rs 2,600 after deducting process fees and interest. As Aravind repaid on time, i.e. a week, the company unlocked more features for him and he further borrowed Rs 30,000, for which he was asked to repay Rs 55,000 within a week. When he delayed repaying this amount, MyBank customer care executives allegedly threatened to inform his family and friends about the default.