Beware: Scam Post About Pradhan Mantri Loan Yojana Went Viral

A post is widely circulating on social media which is providing an easy way to the users to avail quick loan under a government scheme called Pradhan Mantri Yojana Loan. It is being claimed that the loan amount will reflect in bank account within 48 hours. 

However, Fact Crescendo found the claim to be a scam. There is no government scheme called Pradhan Mantri Yojana Loan. 

WHAT’S THE CLAIM?

It was claimed in the post that the government is giving loan facilities under the ‘Pradhan Mantri Yojana Loan’ in which the loan amount will be reflected in bank accounts within 48 hours. One can apply for a personal loan, home loan, and loans for all types of business with a minimal registration fee of Rs. 999 before 28 March 2023. 

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FACT CHECK

After reading the post, we found a lot of grammatical errors and the writing style in the post to be different than that of government releases or notices. We also know that in all the schemes by the government the word ‘Yojana’ always comes after the scheme’s name. E.g- Pradhan Mantri Jan-Dhan Yojana. But in the viral post, the name of the scheme is Pradhan Mantri Yojana Loan. This raised our suspicion about the credibility of the post. 

Clicking on the link provided in the post took us to Google Play Store where the app needed to be installed to proceed with the loan sanction process. But when we looked at the developer’s contact we didn’t find links to any government websites or emails. The name of the developer mentioned is Aim2Excel. 

When we looked for the other services provided by the developer, we found many other apps like E-Rickshaw Services in Haridwar, Divine Reward, My Gaddi Provider, and a few other shopping apps as well. This confirmed that the service provider of the Pradhan Mantri Yojana Loan is not a government organization. 

Is There any Scheme Called Pradhan Mantri Yojana Loan?

We found no mention of any schemes called the Pradhan Mantri Yojana Loan scheme on the government’s national portal website.

This proves that the scheme going viral on social media is a scam. 

We also found a tweet from PIB which asked people to beware of fake government schemes running in the name of the central government. 

CONCLUSION

Fact Crescendo found the viral post to be a scam and false. There is no government scheme under the name of the Pradhan Mantri Yojana Loan. We request our users to beware of such malicious posts.