“Not all that is written is true”, and in this jumbled mess of the social media era with all the attractively worded posts, opinionated threads, and ‘yet another shocking scam story’ occupying our Google feeds, distinguishing between true and false has become even more tedious. In fact, according to a global survey, almost 86% of internet users admitted to getting duped by fake news on the web! So, the moral of the story is while social media is a fantastic space for humans to interact, the fact that it is infested with fake news that harbours the potential to cause harm cannot be overlooked.
One such news that spread around like wildfire and found itself occupying a position in the fake-news story list is that a loan of ₹20,55,000 is being offered under PM Mudra Yojana. The message further asks to verify the mobile number to check loan eligibility in minutes.
Putting a full stop to the circulation of this viral message, the government’s fact-checking team, PIB (Press Information Bureau)- Fact Check said that the message is fake and asked people to not to click on any such suspicious links and never respond to emails/SMS asking to share banking or personal details.
“A viral message circulating on social media claims to offer a loan of ₹20,55,000 under the “PM Mudra Yojana” #PIBFactCheck: ✔️This message is #Fake ✔️Never click on any such suspicious links ✔️Do not respond to emails/SMS asking to share your banking/personal details,” the tweet read.
Notably, PIB Fact Check has earlier also picked up their magnifying glasses and sleuths around an announcement claimed to be made by the Indian Finance Ministry allegedly promised to grant a loan of ₹3,00,000 under the PM Mudra Yojana in exchange for a certain amount. This came after a letter the Yojana wrote revolving around the web through different social media portals, with Whatsapp being the most common.
When a letter from PMMY said that an upfront payment of ₹36,500 could get an individual a loan of up to ₹3 lakhs, it sent the internet into a frenzy. To confirm whether the claims were valid, investigators dug further into the news only to come face to face with the fact that this incident had happened before and that history was repeating itself. Before the ₹3 lakh claim, news floated that the PMMY would give ₹1,00,000 for an upfront payment of ₹1,750.
Following this news, the PIB slammed these claims and said it was fake news and wasn’t to be believed. It is essential to understand that the Pradhan Mantri Mudra Yojana loans are collateral-free and will not ask for any payment of any sort. Such claims occasionally appear on the internet; the government strongly encourages people to visit the official site before paying any heed to such news articles.
What Is PM Mudra Yojana?
The goal of the Pradhan Mantri Mudra Yojana program is to offer micro-loans of up to ₹10,00,000 to micro-enterprises operating in sectors such as manufacturing, trading, processing, and services, excluding corporate and non-farm sectors. MUDRA assists financial intermediaries in extending loans to these income-generating entities.
The PMMY is an initiative by the Central Government to encourage and provide financial assistance to small entities. So, the government asking for payment upfront doesn’t add up, nor does the official letter from PMMY circulating on the web.
Social media connects billions of people virtually but can also harm them with false news. Therefore, it is vital to exercise caution while using the internet. It is important to verify every piece of news with a fine comb to ensure you do not end up falling into scams or losing money.