Ministry of MSME warns public against cheating in name of PMEGP scheme

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The Ministry of MSME has warned people against cheating in the name of the PMEGP scheme.

The Ministry of MSME has warned people against cheating in the name of the PMEGP scheme.

Ministry of MSME warns public against cheating in name of PMEGP Scheme (Prime Minister’s Employment Generation Programme)

In a statement issued by the Ministry of MSME, it cited that there have been some instances being reported to the Ministry that potential entrepreneurs and beneficiaries are being approached by private persons or agencies who are offering loans under the PMEGP Scheme and handing over loan sanction letters and cheating the entrepreneurs by charging money from them.

The Ministry said, “The Ministry has warned the unscrupulous elements against cheating the general public in its name. The Ministry has already taken up the matter with the police authorities for proper investigation and action.”

The PMEGP Scheme is a central sector credit linked subsidy scheme being implemented by the Ministry of MSME since 2008-09 to assist first generation entrepreneurs for setting up of micro-enterprises across the country.

The Ministry said, “No private agency, middlemen or franchise  is engaged or authorized for promoting and sanctioning PMEGP projects or providing any financial assistance under PMEGP scheme.”