The arrested, identified as Kommireddy Venkata Subba Reddy, a native of Gudivada in Krishna district, used to allegedly charge exorbitant interest rate from borrowers, police said. The 47-year-old operated his finance business in Gudivada as well as Vijayawada.
    
The police seized 1,469 promissory notes, 911 blank bank cheques, 59 bank passbooks and 83 ATM cards from him, Deputy Commissioner of Police LKV Ranga Rao told reporters here. After receiving complaints from many victims (borrowers), police collected 'substantial evidence' against Reddy and placed him under arrest, he said.
    
The accused used to provide finance only to government employees, particularly those from Railways. Reddy would collect blank cheques and ATM cards from borrowers, who were also made to sign promissory notes, the officer said.
    
He would not allow borrowers to know their salary details and the amount repaid to him, Rao said. If any borrower dared to question him on repayment, Reddy used either force or filed legal cases against them, the DCP said, adding many families have been ruined because of his finance business.
    
Andhra Pradesh has been rocked by 'call money' racket. 'Call money' refers to a mode of private lending where loan is made available instantly at borrower's doorstep but at exorbitant rates of interest, and the lender can demand repayment anytime over a call.

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