NSE has issued an advisory warning investors against unregistered stock tips on Telegram, identifying the channel and its tips.
In a bid to minimize risks to investors, the National Stock Exchange (NSE) has issued a warning about unregistered stock buying tips available on social media app Telegram, especially on the channel is called ‘Premium by Vijay’.
NSE, in a warning, said that the Telegram channel ‘Premium by Vijay’ allegedly offers stock market trading tips along with promises of guaranteed returns on investing in the stock market.
The stock exchange stated in its press release that the law prohibits investors from subscribing to these schemes that offer guaranteed profits and returns in the stock market. He said that ‘Premium By Vijay’ is not registered as a member or authorized person of any registered member of NSE. Notably, the Telegram channel in question has repeatedly offered guaranteed profits through its programs and products. Registration or approval of such an unregistered scheme may be considered a punishable offense.
In an effort to verify the credentials of market participants, NSE has launched a service called “Know/Locate your stockbroker” on its website, which has can be accessed via the link
https://www.nseindia.com/invest/find-a-stock-broker
This tool allows investors to check the details of registered members and their authorized persons. Additionally, the designated bank accounts disclosed by the trading member to receive or pay funds from or to investors are also displayed under the same link.
NSE said that participation by subscribers in such prohibited schemes would pose risks, costs and consequences to investors, as such schemes are not approved or endorsed by the Exchange .
Investors shall not have access to any benefits under the Investor Protection Rules of the Exchange in the event of any dispute relating to investment in such prohibited schemes. NSE said all investors must verify the details of any individual or entity involved in a scheme like this.
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