Ministry of MSME issues clarification on Fake Approval Letter requesting processing fee payment of Rs. 1000

Last updated: 05 November 2020

Save Share

Quick Summary

The Ministry of MSME has issued a clarification regarding fraudulent approval letters. These fake letters appear to grant loans but demand a Rs 1000 processing fee. The Ministry has stressed that it does not directly engage with individual beneficiaries for any of its credit schemes.

An approval letter allegedly issued by the Ministry of MSME is granting a loan and requesting a payment of Rs. 1000 on the pretext of processing fee. The Ministry of MSMEdoes not directly deal with individual beneficiaries for any of its credit schemes.

Daily Limit Reached

You have reached your daily limit of 2 Free News

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Broadcasts
Daily E-Newsletter
Unlimited News Access

BEST VALUE

2 YEAR PLAN

3,499

(Inclusive of GST)

1 YEAR PLAN

1,999

(Inclusive of GST)

View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

FAQ :

The Ministry of MSME is clarifying that fake approval letters are being circulated, which falsely claim to grant loans and request a processing fee.

The fake approval letters are requesting a processing fee of Rs 1000.

No, the Ministry of MSME does not directly deal with individual beneficiaries for any of its credit schemes.

The fake approval letters are a scam designed to trick individuals into paying a processing fee under the false pretence of receiving a loan.

4755 Views Comment Share Corporate Law Report

News posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :

Ministry of MSME issues clarification on Fake Approval Letter requesting processing fee payment of Rs. 1000