Finfluencer Fallout

In India, there are people on social media called 'finfluencers' who give financial advice. Some do it for free and provide useful tips, but others are causing concerns. Some of them spread wrong information, promote stocks to make money for themselves, and even charge people for advice. This raises doubts about the trustworthiness of financial advice on social media. Nasiruddin Ansari, a financial influencer known as 'Baap of Chart’ was recently banned by the Securities and Exchange Board of India (SEBI) and fined Rs 17 crore. This incident has raised concerns about the credibility and reliability of ‘finfluencers’ in India.