Fake Check: A fake post related to PM Mudra Yojana is going viral on social media these days. It has claimed that a loan of up to Rs 3 lakh will be easily approved for paying a legal insurance fee of Rs 36,500. After all, what is the truth of this post?
Fact check: Along with good information on social media, many times fake posts and propaganda videos are also shared. People often do their losses by coming under their deception. However, the government and PIB continue to alert from time to time regarding such posts and videos. A fake post related to the government scheme is becoming very viral these days. Let’s know what is its reality?
What is being claimed in viral post?
The post going viral on social media shows an approval letter with a picture of the Prime Minister, claiming a loan of Rs 3 lakh under the PM Mudra Yojana for paying Rs 36,500 as a legal insurance charge.
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What is the reality of viral post?
PIB’s fact check team has described this post as fake. No such approval letter has been issued by the Finance Ministry of India. Do not trust this type of post. Beware of cyber thugs, who cheat in government schemes in the name of low interest rate and early loan. For more information related to PM Mudra loan, visit mudra.org.in/faq.
What is PM Mudra Loan Scheme?
Prime Minister Mudra Loan is a government scheme, which provides a loan of up to ₹ 10 lakh to provide income and employment to small businesses. Commercial banks, RRBs, small finance banks, cooperative banks, MFIs and NBFC companies provide loans in this scheme. The purpose of this scheme is to help micro enterprises start or grow their business. Under the Mudra Scheme, 3 types of loans are found baby, teen and Tarun. The applicant does not need to submit any security to banks or loan institutions to take a currency loan. This loan can be paid up to 5 years. According to data from PM Mudra Lone’s official website ‘Mudra’, a total of 5,46,61,648 loans have been approved under the PM Mudra Yojana during FY 2024-25. Of these, Rs 552801.78 crore was sanctioned. Of these, 541802.58 crore rupees have been distributed so far.
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