The Government has debunked a fake approval letter, claiming to grant a loan of seven lakh rupees under the Pradhan Mantri Mudra Yojana on payment of 860 rupees as agreement charges. The Fact Check Unit of the Press Information Bureau (PIB) has termed the letter as ‘fake’. PIB clarified that the Micro Units Development and Refinance Agency (MUDRA) does not lend directly to micro-entrepreneurs or individuals. It noted that MUDRA provides refinancing support to last-mile financiers, including Non-Banking Financial Companies, Microfinance Institutions, societies, trusts, Section 8 companies, small finance banks, and regional rural banks, which in turn extend loans to micro and small business entities engaged in manufacturing, trading, services, and agri-allied activities.