Outlook Money
Many people give investment advice on social media, commonly known as influencers. However, not all hold the certifications.
The Securities and Exchange Board of India (Sebi) has raised many red flags regarding them in the past, but their growing numbers and reach are a major worry.
The extensive use of smartphones to watch YouTube videos or post messages on Twitter and Telegram gave them a huge exposure.
Sebi mandates investment advisors and researchers to register with the regulator. However, many finfluencers may not have registered themselves.
A recent Sebi analysis revealed a rise in young and small investors trading derivatives, with over 90 per cent incurring losses.
Compiled By Himani Verma