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.
ED has accused Amtek promoter Arvind Dham of controlling web of nearly 500 shell companies operating as a layered structure, with up to 15 levels of indirect ownership, to divert funds.
Bengaluru-based CeNS designs accurate, portable, and cheap sensor using surface-enhanced Raman spectroscopy. It could significantly reduce risks at vulnerable choke points.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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