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Have you, too, received a call or message promising the waiver of your loan? In light of this issue, the RBI has issued a major appeal to the general public. The Reserve Bank has urged people to be wary of advertisements that make false promises regarding loan waivers. With this in mind, the RBI has warned the public not to fall for such scams. To address this, the Reserve Bank has launched an awareness campaign across various media channels and through direct outreach.

Many advertisements falsely promise to waive outstanding debts owed to banks and NBFCs. These fraudsters attempt to entrap people by using fake "loan waiver certificates" or other similar fraudulent documents. In exchange, they extract money from people under the guise of "service charges" or "legal fees." The RBI has explicitly stated that there is no need to be misled by such claims. Legal action will be initiated against these entities.

**How ​​Do Scammers Target You?**
Fraudulent entities entrap people by claiming to possess special authority or a unique method to secure loan waivers from banks. They provide assurances that, by following a few simple steps, one can have their entire debt completely wiped out.

**How ​​to Stay Safe?**

To protect yourself from such scams, the most crucial step is to verify any information regarding loan waivers or special offers directly with your bank. To do this, visit your bank's official website or visit your nearest branch to confirm the details. Remember: no legitimate bank or financial institution will ever ask you to pay an upfront fee through a third party in exchange for a loan waiver. If anyone makes such a request, be on high alert.

Furthermore, do not place your trust in "guaranteed promises"—such as a "100% loan waiver"—as these are often indicators of fraud. Always verify the credentials of individuals claiming to be agents of a bank or the RBI, and never share your personal or financial information with strangers. Always rely solely on information obtained from official sources, such as the RBI, SEBI, the Ministry of Finance, or your own bank. RBI Warning
The Reserve Bank has stated that such fraudulent activities adversely affect the credibility of banks. This causes harm to individuals who deposit their money in banks for safekeeping. Those who fall victim to such schemes may suffer direct financial losses.

The RBI has warned the public to steer clear of any individual or entity involved in such deceptive practices. Refrain from availing their services, and if you encounter any such instance, immediately report it to the police or the relevant authorities.

Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.