The Press Information Bureau has debunked viral social media claims of Rs 3 lakh loans under a ‘Prime Minister Loan Scheme’, warning the public against fake advertisements and scams exploiting official-sounding language.
Social media posts claiming the Indian government is giving out Rs 3 lakh loans under a “Prime Minister Loan Scheme” are fake, according to the Press Information Bureau’s fact-check unit. The agency said the viral advertisement is not backed by any government programme and warned people to rely only on official websites for information on public schemes.
The warning comes amid a wave of misleading loan offers circulating online, many of them dressed up as government-backed benefits. PIB Fact Check has also flagged similar fake letters and ads that promise easy approval under the Pradhan Mantri Mudra Yojana in exchange for small upfront fees, including claims of a Rs 3 lakh loan for Rs 7,699 or a Rs 5 lakh loan for a processing charge.
According to the India Brand Equity Foundation, the Pradhan Mantri Mudra Yojana was launched in April 2015 to support small and micro businesses with loans of up to Rs 10 lakh. But MUDRA is a refinancing agency, not a direct lender to individuals, which means applications are routed through banks and other financial institutions rather than through a standalone government cash handout.
Officials have repeatedly urged people to verify such offers before sharing personal details or paying any fee. The broader pattern, as reported by several outlets, shows how scammers use official-sounding language, Aadhaar references and attractive loan amounts to lure victims, even when no such scheme exists.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
