Mumbai, March 21 – SEBI’s whole-time member Ananth Narayan stated on Friday that since the implementation of the 'fin-influencer' framework last year, the market regulator has worked with social media platforms to remove more than 70,000 misleading accounts and posts. The move is aimed at curbing the spread of false financial advice, especially from unregistered individuals posing as investment experts online.
Fin-influencers, or financial influencers on social media, have gained considerable traction in India, often promoting investment strategies without regulatory oversight. Narayan pointed out that unregistered investment advisors and research analysts pose a significant threat by taking undue advantage of the growing public interest in investing.
Addressing a gathering organized by registered investment advisors, Narayan emphasized that SEBI has been actively consulting with social media companies since October 2024 to take down misleading content. As per agency report, he also mentioned SEBI's efforts to assist in compliance by facilitating tools such as UPI-linked 'PayRight' accounts and a centralized fee collection mechanism to help identify SEBI-registered entities.
Narayan, a former commercial banker, addressed concerns about foreign portfolio investors (FPI) pulling out of Indian markets. He reassured that the overall investment flow remains stable and not as alarming as perceived, although India cannot afford complacency, given its dependence on foreign savings.
He noted that as of February 2025, FPIs held over ₹62 lakh crore (approximately USD 700 billion) in Indian equities and about ₹5.9 lakh crore (USD 68 billion) in debt. Over the past five years, India has witnessed a total foreign inflow of USD 54 billion in equity and debt, which marks a significant increase compared to USD 19 billion in the previous five-year period.
Narayan concluded by underscoring the importance of sustaining investor confidence through consistent economic growth, macroeconomic stability, and a robust operational environment.
