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Personal Finance News

The Economic Times

Personal Finance / The Economic Times

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Got a Rs 7 Lakh PM Mudra loan approval asking for Rs 860? You are being scammed

Scammers are using fake approval letters on social media, claiming eligibility for PM Mudra loans and demanding a fee for release. The Press Information Bureau has confirmed these letters are fraudulent. Mudra, a refinancing agency, does not lend directly to individuals, making any upfront payment request a clear sign of a scam.

6 Mar 2026 4:41 pm