“MUDRA Loan Approval Letters asking borrowers to pay legal charge/processing fee for loan disbursement.”
What FACTLY found
There are a lot of inconsistencies and mistakes in the approval letters. Neither ‘Mudra Finance Private Limited’ nor ‘Mudra Finance Limited’ can be found in the ‘List of Partner institutions shortlisted to be partners of MUDRA’. Also, there is no ‘National Financial Corporation Act 1956’, which is mentioned in the letter.
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 5 July 2020. FACTLY (India) looked into it and published its finding on 6 July 2020, 1 day later. Its rating was “FALSE”.
Where the claim appeared
- Facebook posthttps://www.facebook.com/104506974629925/photos/a.104558477958108/105507934529829/?type=3…
Links recorded by FACTLY. Some posts may have been deleted since.
This check was done by FACTLY, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.