Former RBI Governor Raghuram Rajan Warns Against Fake Investment Advice Videos In His Name

Raghuram Rajan, former governor of the Reserve Bank of India (RBI) has asked people to beware of fake videos circulating under his name on social media.

Raghuram Rajan, on LinkedIn, urged people to report these kinds of actions to the relevant authorities. The economist added that he does not offer public financial advice, particularly on specific equities. From 2003 to 2006, he was the chief economist and the International Monetary Fund’s (IMF) research director.

“I understand there are videos of me on various social media purporting to advise on investing, especially in individual stocks. These are fake and the perpetrators should be reported to the relevant authorities. I do not give investment advice to the public, and have never touted individual stocks,” former governor of the RBI, Raghuram Rajan wrote on LinkedIn. “Each individual has their own financial needs and risk appetite,” he added in his post.

“Furthermore, investors are typically better off holding diversified portfolios of bank deposits, bonds, and stocks (through mutual funds and ETFs) rather than buying individual stocks or stock options,” Raghuram Rajan clarified, reinforcing his long-held beliefs of cautious financial management.

A user commented, “Kindly publish this over other social media channels i.e. Instagram, Facebook, etc. I was so disturbed to see your name till yesterday over the matter of investment advice and was 80% sure that it is fake.”

Another said, “Not only you sir, but many other people’s names are used in such fake ads”. Meanwhile, many users thanked Raghuram Rajan for sharing the message and making them alert.