2023-12-11 21:17:00
RBI WARNS PUBLIC AGAINST FALSE LOAN WAIVER ADVERTISEMENTS
The Reserve Bank of India (RBI) has issued a warning to the public, urging them not to be deceived by false advertisements promising loan waivers in print media and social media. According to a statement released by the RBI, there have been reports of companies and individuals misleading the public with claims of obtaining discounts on their loans.
The RBI has stated that these companies are carrying out extensive campaigns through print media and social media, falsely promising loan waivers and discounts. Additionally, there have been reports of these companies charging service and legal fees for issuing ‘loan waiver certificates’ without any authority.
Furthermore, the RBI has emphasized that these false advertisements and misleading campaigns not only undermine the stability of banking and financial institutions but also jeopardize the interests of customers who hold accounts with these institutions.
The public has been advised not to fall victim to these deceptive practices, as dealing with such companies can result in direct financial losses. The RBI has also urged the public to report any such companies to the law enforcement agencies.
This warning comes in the wake of increasing reports of individuals and companies falling prey to these false advertisements, and the RBI is taking proactive steps to protect the interests of the public and maintain the stability of the banking and financial sector.
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