Their casual and chatty style is a bit hit with followers; critics warn their advice can sometimes be misleading as SEBI cracks whip on some 'finfluencers' violating norms.
While social media has brought increased access to financial literacy and advice through memes and metaphors, the quality can be inconsistent, surface level and susceptible to fraud.
Indians aged 20-30 are trading in options market in droves, but know nothing about it & so keep losing money. If losses mount, it could undo gains India saw in investment culture, analysts fear.
Ben Armstrong, better known as 'BitBoy', was ousted from his company last August and subsequently accused of extortion, theft, sexual harassment and workplace violence. He had 1.5 million followers on YouTube.
Ravisutanjani Kumar, a rising finance influencer who’d even grabbed Union minister Piyush Goyal's attention this month, has countered claims that he lied about his qualifications.
Markets regulator has sought comments on proposed rules that would effectively ban unregistered finfluencers from dispensing investment advice. Comments welcome till 15 Sept.
Admitting to rise of fake influencers indulging in practices that lead to followers losing money, finfluencers say consumers must be 'alert' but also feel govt needs to regulate the space.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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