SMS alerts to caution investors against fraud schemes soon
The plan to send SMS alerts, expected to be ready by end of this month, is part of larger efforts to create awareness among investors amid rising instances of people getting duped by fraudulent investment schemes.
"We are going to provide SMS alerts, which will be small cautionary messages to alert investors about fraudulent and ponzi schemes. We will be providing such alerts through the BSNL network," a senior Ministry official said today.
According to the official, the Ministry would also soon be tapping 'Google' as well as airing messages on All India Radio and Doordarshan, to create more awareness among investors about fraudulent schemes.
"We will finalise a Google package or Google enabled mechanism to spread awareness (among investors) by the end of month," he said.
Campaigns through SMS alerts and Google would continue for about three to four months. The expenditure in this regard is expected to be around Rs 1 crore to start with.
The official noted that digital media would be utilised, especially to caution vulnerable sections like youngsters and pensioners from making investments in fraudulent schemes.
The idea to have SMS alerts and to tap the digital media was mooted by Corporate Affairs Minister Sachin Pilot.
Already, the Ministry is carrying out various investor awareness programmes.
Meanwhile, the ministry
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