The tagline of a front page advertisement in a daily business featuring the face of a finflunecer (financial influencer) reads: “Trust only real professionals”, along with the IT Ministry logo next to the YouTube logo, made big news and received harsh criticism. Critics questioned whether the ad was intended to endorse the skills of influencers or a particular social media platform.
However, the ad does not refer to financial influencers directly, but rather it includes an image of a well-known financial influencer, Rachna Ranada, along with the logo of the Ministry of IT, YouTube logo and a slogan. However, at this point, SEBI wants to settle accounts with financiers.
On June 26, the Minister of Electronics and IT, Rajeev Chandrashekhar expressed that the advertisement is not intended to endorse a platform or a person. The Minister also said that since such pro-advertisements can often be misinterpreted, he advised caution against the use of Government logos in such campaigns by private platforms.
Learn about Finfluencers
Finfluencers are people who give advice and share personal experiences on stock investing and money management through public social media platforms. The content these financial influencers generate are talks on investing, budgeting, crypto tips, real estate buying tips, tracking financial trends, etc.
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Categories: Trends
Source: HIS Education