Published: 20th Dec 2024
By: Value Research
The Securities and Exchange Board of India (SEBI) fined a social media finfluencer named Ravindra Bharti Rs 9.5 crore for providing unregistered investment advice and trade recommendations.
SEBI has previously notified finfluencers to not provide investment advice in exchange for money or have any ties with stockbrokers, trading platforms or other SEBI-regulated entities.
While SEBI’s rules are a step forward in protecting investors’ interests, policing each and every finfluencer can be a tough task. So, read the following slides to know what you should do.
As tempting as ‘get-rich-quick’ schemes sound, creating large amounts of wealth overnight is nearly impossible. The market rewards those who stay invested for the long term. Time in the market is key.
Daily market buzz can distract you from your goals. Ignore short-term volatility, avoid falling for the latest ‘investment fad’, and focus on your long-term investment strategy for steady growth.
Investing requires knowledge. Take your time to study legendary investors, research businesses and trust reliable sources (company websites and research papers) – not finfluencers. Do your due diligence before investing.
Never share sensitive information like bank account details, passwords and OTPs (one-time passwords) over the phone or email. Hang up on suspicious calls, set up two-factor authentication and regularly monitor your financial statements to safeguard your money from potential scammers.
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To learn more about how to stay safe from finfluencers, keep reading Value Research Online.