During her address, Sitharaman stated that there is currently no proposal to regulate "influencers," but noted that a word of caution is essential. She expressed concerns about the increasing number of Ponzi apps that are offering financial solutions in India and warned citizens to be wary of these schemes.
Finance Minister Nirmala Sitharaman on Sunday addressed the issue of financial influencers in India and warned of the dangers of Ponzi apps offering financial solutions.
During her address, Sitharaman stated that there is currently no proposal to regulate "fin-fluencers," but noted that a word of caution is essential.
"If there are three or four people giving us very objective, good advice, there are seven others out of 10 who are probably driven by some other considerations," she cautioned.
Sithraman also expressed concerns about the increasing number of Ponzi apps that are offering financial solutions in India and warned citizens to be wary of these schemes.
"There are also apps which are coming out and reaching out to people saying, 'We can do this. We can do that. Your money will fetch you this much.' Many of whom are Ponzi," she noted.
The Finance Ministry is reportedly working with the Ministry of Electronics and Information Technology (MeitY) and the Reserve Bank of India (RBI) to clamp down on fraudulent apps and protect citizens from financial scams.
The ministry is "clamping down on them like never before so that we don't get that Ponzi apps taking away hard-earned money," Sitharaman said.
Hence, while social and fin-influencers are out there, each individual must have a strong sense of caution, the finance minister alarmed.
Giving pointers on what to do, Sitharaman said Indian citizens should double-check, counter-check and talk to other people. She warned individuals to not go as a flock into something without doing due diligence.
"We have to be careful. It's our hard-worked money. You've earned it. You save it. You protect it," Sithraman said.
The finance minister made these comments on April 23 while in Bengaluru, Karnataka, for an event. There, she also commented on Prime Minister Narendra Modi's recognition of states and India's federal nature, and the Ukraine-Russia war and its global impact.
With the rise of social media and the growing influence of online personalities, financial influencers have become a topic of concern in India.
First Published: Apr 23, 2023 1:00 PM IST
http://www.scientix.eu/es_ES/web/scientix-cop-4/topic-1/-/message_boards/message/1266536
https://thebestblogforyou.blog.ss-blog.jp/2022-10-07-3?1665136393
https://deloreshouston.amebaownd.com/posts/38012347
https://canvas.instructure.com/eportfolios/1516047/Home/
https://conifer.rhizome.org/zulaanthony/%E9%80%B8%E8%90%AC%E9%96%80%E5%A8%9B%E6%A8%82%E5%9F%8E%E6%8E%A8%E8%96%A6%E9%A6%96%E9%81%B8%E9%80%B8%E8%90%AC%E9%96%80%E5%A8%9B%E6%A8%82%E5%9F%8E%E9%AB%94%E9%A9%97%E9%87%91%E5%A8%9B%E6%A8%82%E5%9F%8E%E8%A8%BB%E5%86%8A%E9%80%81/
https://lawerence-s-school.thinkific.com/pages/266521
No comments:
Post a Comment