FM warns investors not to fall prey to the so called finfluencers

The Union Finance Minister, Nirmala Sitharaman has cautioned investors not to fall prey to online influencers to invest their hard-earned money. She was addressing an event at Tumkur, Karnataka.

In media articles, Nirmala is quoted as having said, “If there are three or four people giving good objective advice, there are seven others out of ten who are probably driven by some other considerations.”

Finfluencers are all out there but investors should exercise strong caution. They should double-check, counter-check and speak with people instead of going in a flock, she said.

Nirmala further advised investor to do due diligence before investing their money and said, “We have to be careful. It is our hard-earned money. You earned it, you save it, you protect it.”