India 360: FM Warns Against Financial Influencers, Focuses On Ponzi App Clamp Down

There are a lot of financial influencers on social media who give investment advice even if they are not qualified. Most of Ponzi apps are such apps in which fake offers are given to earn more by investing less money. In the wake of rising fraud in Ponzi apps, Union Minister Nirmala Sitharaman said the finance ministry is working with MeitY and RBI to clamp down on Ponzi apps to prevent them from taking away hard-earned money of gullible investors.