Fraudsters are targeting people through social media apps. They send fake approval letters and claim that the person is eligible to get a loan under Pradhan Mantri Mudra Yojana and to get the money, only a small fee has to be deposited. The Fact Check Department of Press Information Bureau shared the picture of one such fake letter on its official Twitter account. It was claimed in this letter that a loan of ₹ 7,00,000 has been approved under PM Mudra Yojana, but for this, ₹ 860 agreement charge will have to be deposited first. PIB has made it clear that all such approval letters are completely fake.
Why does this scam work so easily
Mudra Loan is an original scheme and is also very popular among small businessmen in the country. Many people know about this, so fraudsters take advantage of this trust. But one important thing that people often do not know is that MUDRA does not give loans directly to people. MUDRA i.e. Micro Units Development and Refinance Agency gives money to banks and financial institutions and the same institutions further give loans to small businessmen. According to Adhil Shetty, it is important to remember that MUDRA does not give loans directly to individuals, but refinances banks.
How to identify fake Mudra offers
- According to experts, there are some signs by which you can immediately understand that the offer is fake.
- If processing fee or agreement charge is asked before releasing the loan
- Receiving message of pre-approved loan without applying
- Contacting only through WhatsApp or personal number instead of bank branch
- Unofficial approval letter issued directly in the name of MUDRA
- Claim of giving loan with guarantee in very few documents
- What to do if you have become a victim of fraud
In such a situation it is necessary to take immediate action
First of all, inform your bank or payment provider so that the transaction can be stopped. After this, complain on the National Cyber Crime Portal or call 1930 cyber helpline. Also, keep evidence like payment receipts, screenshots, phone numbers and messages safe and lodge a complaint with the nearest cyber cell or police station.
What is Mudra Loan?
- Under PM Mudra Yojana, loans are given to small businesses in four categories.
- Child: Up to ₹50,000
- Kishore: ₹50,000 to ₹5 lakh
- Tarun: ₹5 lakh to ₹10 lakh
- Tarun Plus: ₹10 lakh to ₹20 lakh
- These loans are given for non-agricultural businesses like manufacturing, trading, services and self-employment.
Experts say that always apply through bank or official channel only. If any agent or person claims to get a loan by charging a fee, then understand that he is trying to cheat.