The Government has debunked a loan approval letter circulating online claiming that a loan has been sanctioned at a very low interest rate under the Pradhan Mantri Mudra Yojana. The Fact Check Unit of the Press Information Bureau (PIB) informed that the letter is fake. Mudra is a refinancing institution and does not lend directly to micro-entrepreneurs or individuals. PIB said that loans under the Pradhan Mantri Mudra Yojana can be availed through nearby bank branches, RBI-registered NBFCs, MFIs, etc. It has also urged the citizens to not fall for such claims.