RBI warns against fake debt waiver certificates and fee scams
Business
The Reserve Bank of India (RBI) is alerting people about scams where fraudsters promise to wipe out your loans or hand out fake "debt waiver certificates."
These scammers often ask for fees disguised as service or legal charges.
The RBI says these tricks not only mislead people but also mess with the whole credit system.
RBI urges reporting, advises consulting banks
The RBI makes it clear: all such offers are fake, and those behind them can face legal action.
If you get approached with these claims, don't fall for them: talk to your bank or lender instead.
The RBI is also encouraging everyone to report these scams to the appropriate law enforcement agencies, warning that falling for them could lead to financial loss and instability.