NSE cautions investors against fraudulent guaranteed-return schemes
Claims by unregistered entities in India's stock market to offer guaranteed returns and manage trading accounts are once again raising regulatory concerns. The National Stock Exchange of India has urged investors to stay away from any such schemes and not to share their trading login credentials with anyone.
Highlights
- NSE has warned of fraudulent promises of guaranteed stock market returns made by a person named 'Radhe' through the Telegram handle 'V_I_P_PAIDGROUP' and the 'Stock Burner' channel.
- The exchange urged investors to stay away from schemes offering indicative, assured or guaranteed returns and not to share their trading credentials.
- NSE clarified that those who invest in illegal schemes will not have access to exchange facilities such as investor protection and grievance redressal.
This article was translated from the original. Read the original version by our correspondent here.
NSE's warning and the entity identified
According to the National Stock Exchange of India (National Stock Exchange of India), a person named "Radhe" is offering securities-market tips, assured or guaranteed returns on stock market investments, and management of investors' trading accounts through mobile number 7665285389, the Telegram channel "Stock Burner" and the Telegram handle ID "V_I_P_PAIDGROUP". The exchange said such offers are prohibited by law and that the person or entity concerned is not registered with NSE as a member or an authorised person.The exchange has advised investors not to subscribe to any scheme or product offered by a person or entity promising indicative, assured or guaranteed returns in the stock market. Investors have also been told not to share their trading credentials, including their user ID and password, with anyone.
Investor protection and available verification facility
NSE said investors can verify the details of registered members and their authorised persons using the "Know/Locate your Stock Broker" facility. According to the exchange, details of client bank accounts declared by trading members for receiving funds from or making payments to investors are also available through the same link. Investors should verify this information before transacting with any person or entity.The exchange clarified that participation in such prohibited schemes is at investors' own risk, cost and consequences, as these schemes are neither approved nor endorsed by the exchange. NSE also said that investors in such cases will not have access to facilities such as investor protection under the exchange's jurisdiction, the exchange dispute resolution mechanism, or the investor grievance redressal mechanism operated by the exchange.
Latest NSE India News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
