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Informist, Monday, May 4, 2026

 

MUMBAI – The Reserve Bank of India Monday once again cautioned the public against false and misleading campaigns promising loan waivers. Such campaigns interfere with the orderly functioning of the country's credit system, the central bank said in a press release.

 

The misleading campaigns include false promises of waivers of outstanding dues to banks or non-banking finance companies, issuance of "debt waiver certificates" or similar documents, and collection of fees under various pretexts, the RBI said. Such activities can result in direct financial loss, it warned the public.

 

The central bank requested members of the public to approach their lending institutions directly for information related to their loans and to report any such misleading campaigns to the appropriate law enforcement agencies.  End

 

Reported by Nandini Sinha

Edited by Rajeev Pai

 

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