Mumbai (Maharashtra) [India], November 19 (ANI): The Reserve Bank of India (RBI) has cautioned public over deepfake videos of its top management being circulated over social media giving financial advice.

In a statement Tuesday, RBI said it has come to their notice that fake videos of the Governor (Shaktikanta Das) are being circulated in social media that claim launch of or support to some investment schemes by the RBI.

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"These videos attempt to advise people to invest their money in such schemes, through use of technological tools," said the RBI statement.

RBI, through the statement, clarified that its officials are not involved in or support any such activities and these videos are fake.

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Notablly, RBI does not give any such financial investment advice.

Public is, therefore, cautioned by the RBI against engaging with and falling prey to such deepfake videos circulated over social media.

Earlier this year, the National Stock Exchange (NSE) had issued a similar advisory cautioning investors not to fall for fake or Artificial Intelligence generated deep fake videos of its MD and CEO, Ashishkumar Chauhan, recommending stocks.

There have been several instances where videos of big business leaders were circulated on social media recommending stocks to buy and giving business advice -- all such videos were fake and generated by Artificial Intelligence.

The exchanges, on its part, keep track of news items that float about companies and are not disclosed by the respective companies. They also track and check if investors invest in such companies based on unverified news items. In case, the news is unverified, exchanges typically ask the company to confirm or deny the news items. (ANI)

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