Is the Viral Pradhan Mantri Mudra Yojana 1% Interest Loan Approval Letter Real? PIB Fact Check Reveals Truth
A viral loan approval letter claiming a INR 2,00,000 Pradhan Mantri Mudra Yojana loan at a 1 per cent% interest rate is fake. PIB confirms MUDRA does not issue direct loans. Actual rates range from 8 per cent to 24 per cent via authorised banks. 'Loans under the Pradhan Mantri Mudra Yojana can be availed through nearby bank branches, RBI-registered NBFCs, MFIs, etc' PIB said.