PIB Fact Check has repeatedly flagged fake PMMY loan-approval letters and websites that demand upfront fees or pose as authorised agents. MUDRA is a refinancing institution; it does not lend directly to individuals or micro-entrepreneurs. Eligible loans are offered through banks, RBI-registered NBFCs and microfinance institutions. Verify the lender through official channels, and do not pay unknown intermediaries or share OTPs and banking details. Source: PIB Fact Check.