A social media post is going viral that claims people can get Rs 7 lakh loan under the Pradhan Mantri Mudra Yojana (PMMY) on payment of a nominal fee. The fee, the viral post claims, is a part of an “agreement charge” of Rs 860.
Debunking the viral video , government’s fact-checking arm PIB Fact Check has said that this claim is Fake.
“An approval letter claims to grant a loan of ₹7,00,000/- under PM Mudra Yojana on payment of ₹860/- as agreement charges. This letter is Fake,” PIB Fact Check said.
It added, Refinancing Agency – MUDRA doesn’t lend directly to micro-entrepreneurs/individuals. MUDRA refinances all Last Mile Financiers, including NBFCs, MFIs, societies, trusts, Section 8 companies, small finance banks, and regional rural banks that lend to micro and small business entities engaged in manufacturing, trading, services, and agri-allied activities.
How to get messages fact-checked by PIB
If you get any such suspicious message, you can always know its authenticity and check if the news is for real or it is a fake news. For that, you need to send the message to https://factcheck.pib.gov.in. Alternatively you can send a WhatsApp message to +918799711259 for fact check. You can also send your message to pibfactcheck@gmail.com. The fact check information is also available on https://pib.gov.in.
MUDRA loan scheme completed 11 years this April. Mudra loans are being offered in four categories namely, ‘Shishu’, ‘Kishor’, ‘Tarun’ and ‘TarunPlus’ which signifies the stage of growth or development and funding needs of the borrowers: –
Shishu: covering loans upto Rs. 50,000
Kishor: covering loans above Rs. 50,000 and up to Rs. 5 lakh
Tarun: covering loans above Rs.5 lakh and upto Rs.10 lakh
TarunPlus: covering loans above Rs.10lakh and upto Rs.20 lakh
Loans cover term financing and working capital needs across manufacturing, trading and service sectors, including activities allied to agriculture like poultry, dairy, and beekeeping, etc. The interest rate is governed by RBI guidelines, with flexible repayment terms.
