The Reserve Bank of India has advised people to go for a fact checking before investment as incidences of people being tricked by misleading advertisements are increasing.
Couple of days back, investors of Senco Jewellery Palace Abhusan said they were enticed by such advertisements.
Investors like Madan Koley, who had invested a huge amount with the company, said advertisement was the trigger for investment.
"Such schemes are quite common with the jewellery industry. There were advertisements in newspapers and on television. I never imagined landing up like this," he was quoted as saying by ‘The Times of India’.
As per the central bank, misleading advertisements promising unusually high returns have already played a mess.
There have been 200 cases where firms have come out with false advertisements and garnered money from investors.