Summary of this article
Fake message falsely promises Aadhaar-based loans at 2 per cent.
Government has no such loan scheme for Aadhaar holders.
Verify loan offers before sharing Aadhaar, banking details or OTPs.
The Press Information Bureau’s (PIB) Fact Check Unit has flagged a message circulating online that claims people can get loans at 2 per cent annual interest using their Aadhaar cards under a “Pradhan Mantri Yojana”.
The message also claims that 50 per cent of the loan would be waived. PIB Fact Check has clarified that no such scheme is being run by Prime Minister Narendra Modi or the Government of India.
Message Makes Attractive Loan Offer
The fake message, circulated in Hindi, carries a promise of a loan at a 2 per cent interest rate and partial waiver. It asks recipients to contact a phone number to avail of the purported benefit.
PIB Fact Check has categorised the message as fake and warned people against responding to such claims. According to the fact-check unit, such messages could also be attempts to obtain personal information from recipients.
The use of Aadhaar in the message can make the offer appear linked to a government-backed financial facility. However, PIB has clarified that there is no government scheme matching the claims made in the message.
How Such Messages Contain Fraud Risks
Such unsolicited loan offers can be used by scammers to collect sensitive information, and/or direct people towards unsafe channels. Sharing sensitive personal information, such as Aadhaar details, banking information, OTPs or other financial credentials, with unknown individuals can expose you to financial fraud.
The government has also highlighted the risks associated with unauthorised digital lending platforms, including misuse of borrowers’ personal data and hidden charges. RBI-regulated lenders and authorised entities are required to follow the applicable digital lending rules.
The PIB Fact Check Unit has urged people not to share such messages. It also advises users to verify claims about government schemes through official sources instead of relying on messages received through social media or messaging platforms.
Verify Before Applying For Any Loan
People receiving messages promising unusually cheap loans or large waivers should verify the offer before sharing any personal or financial information. They should check whether the scheme exists on an official government website and whether the lender is authorised.
Recipients should avoid clicking unknown links, calling numbers provided in unverified messages or sharing Aadhaar details, bank account information, passwords or OTPs. Upfront payments for any government scheme should always be approached with caution.
