A fraudulent permission letter claiming to offer a seven lakh rupee loan under the Pradhan Mantri Mudra Yojana upon payment of 860 rupees as agreement fee has been refuted by the government. The letter has been described as “fake” by the Press Information Bureau’s (PIB) Fact Check Unit.
PIB made it clear that neither individuals nor micro-entrepreneurs receive direct loans from the Micro Units Development and Refinance Agency (MUDRA). It stated that last-mile financiers, such as Non-Banking Financial Companies, Microfinance Institutions, societies, trusts, Section 8 companies, small finance banks, and regional rural banks, receive refinancing assistance from MUDRA. These financiers then lend money to micro and small businesses involved in manufacturing, trading, services, and agribusiness.
