RBI’s warning on these ads on Facebook, Insta and other social media

RBI warns public about misleading loan waiver offers on social media platforms like Facebook and Instagram; cautions against falling prey to misleading advertisements; entities promoting campaigns charging service or legal fee for ‘debt waiver certificates’; campaigns undermine banks’ rights over securities; misrepresenting that dues to financial institutions need not be repaid; activities undermine financial institutions and depositors’ interests; borrowers urged to report incidents; RBI has no plans to regulate social media influencers in financial markets; finance minister warns about apps promising unrealistic financial returns.