The advertisement was circulated as part of YouTube's "Hit Pause" campaign aimed at educating the masses about the growing fashion of blindly relying upon financial influencers without entailing proper due diligence. The advertisement, however, was not well-received as it featured influencers who are not registered investment advisers (RIAS).
The Minister of State for Electronics and Technology was quick to clarify that the advertisement is not an endorsement of a specific individual or any social media platform.
"@Gol_MeitYencourages all digital platforms to create awareness of Safe&Trust And Accountable #Internet and is supportive of all genuine campaigns/advocacy for this but that is not an endorsement. Given that these type of advocacy ads could be misinterpreted, I have advised more careful use of govt logos in these campaigns by private platforms," Rajeev Chandrasekhar said in a tweet.
However, many felt that at a time the Securities and Exchange Board of India (Sebi) is trying to bring some semblance of sanity in the finfluencer market, such advertisements can cause confusion in the investing community.
This story is from the June 28, 2023 edition of Financial Express Mumbai.
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This story is from the June 28, 2023 edition of Financial Express Mumbai.
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