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Nowadays everyone is crazy about starting their own startup or small business, and digital fraudsters are taking advantage of this need. These days, a ‘loan approval letter’ is becoming increasingly viral through social media and post. It is being claimed that your loan of Rs 5 lakh has been approved under Pradhan Mantri Mudra Yojana (PMMY). It sounds like a lottery, but in reality it is a well-planned conspiracy to steal your hard-earned money.

‘350 rupees’ psychological trap of vicious thugs

The method of this fraud has been prepared so precisely that anyone can easily fall into the trap. The format of the letter that the fraudsters are sending and the government logo looks exactly like the original. It is written in the letter that to send a loan of Rs 5 lakh directly to your account, you only have to ‘Processing fee’ of Rs 350 Must be deposited.

The fraudsters know that in front of a huge amount of Rs 5 lakh, any person will consider Rs 350 as a small amount and pay it immediately. As soon as you pay this small amount, they steal your banking details or start demanding bigger ‘hidden charges’ from you.

PIB Fact Check: Government calls the letter ‘fake’

When this fake letter started reaching a large number of people, the official fact-check unit of the government PIB (Press Information Bureau) Investigated it. PIB has clearly stated that this letter is completely Fake Is.

How does the Real Money Scheme work? (must know)

To avoid fraud, it is important to understand what is the process of taking Mudra Loan. Understand the working of Pradhan Mantri Mudra Yojana as follows:

• No direct loan: ‘MUDRA’ itself does not distribute money directly to any customer.

• Refinancing Model: It is a refinancing agency that provides funds to banks (government and private), rural banks and NBFCs.

• Bank Contact: If you need Mudra Loan, you have to directly visit your nearest bank branch or apply on their official website.

• Confusion of government letter: The government never sends a ‘loan approval letter’ to any unknown person sitting at home without applying.

Keep these 4 things in mind to avoid fraud

Your vigilance is your biggest security shield in the digital age:

1. Verification: To check the authenticity of any loan offer, visit the concerned bank branch and talk to them.

2. Avoid payment: No bank or government institution asks for ‘processing fee’ in exchange for giving loan to any unknown UPI or personal account.

3. Data Security: Do not share your Aadhaar, PAN card or bank OTP with any unauthorized person or suspicious website.

4. report a: If you receive any such letter, then definitely report it on the ‘Cyber ​​Crime’ portal.