RBI cautions people about advertisements on loan waiver
The Reserve Bank of India (RBI) has cautioned people against misleading advertisements related to loan waiver offers in the print media as well as social media platforms. According to a statement issued by the RBI, it has taken notice of some misleading advertisements luring borrowers by offering loan waiver. These organisations have been actively promoting several such campaigns in print media as well as on social media platforms.
There are also reports that such entities charge service/legal fees for issuing loan waiver certificates without any authorisation. The central bank said that the public is cautioned not to fall prey to such false and misleading campaigns and report such incidents to the law enforcement agencies.