Influencers have mushroomed on various social media after the Covid lockdown. During 2020, more and more people moved to social media for every sort of information. And Finfluencers gained the popularity soon.
Who are Finfluencers
Finfluencers as the name suggests are influencers who share content on finance. They surpassed the traditional finance advisers. Many mutual fund consultants said it happened because they left a gap for them.
SEBI on Finfluencers
However not to forget everything has two sides. On one hand, it offered free and easily accessible knowledge to people in any corner of the world. While on the other hand, many cases of misleading investors were reported. Some of the finfluencers were found partnering with brokers and engaging in illegal practices. This called for action. Experts said that this happened because the financial literacy rate in India was low.
However, on 27th June 2024, SEBI stated in a press release:
“Entities regulated by SEBI and their agents are prohibited from associating, directly or indirectly, with any individual or entity that offers financial advice or makes performance claims without SEBI’s permission. This includes any form of monetary transactions, client referrals, or IT system interactions.”
Moreover, the national watchdog, SEBI also proposed to penalize any unregistered entity for using the name of SEBI registered entity. The document read:
“SEBI-registered intermediaries shall take active-measures to dissociate themselves from any unregistered-entity. They shall take necessary action to bring it to the notice of the enforcement-agency concerned to take appropriate action, including filing-a-case under section-420 of the Indian-Penal-Code-1860 for impersonation and fraud, etc, as may be applicable.”
Tops Finfluencers of India:
1. Rachana Ranade
Age: 35
Qualification: CA
Number of Followers: 2.78 million
Avg No. of Videos Per Month: 8-10 videos; 4 live streams
Base: PUNE
Rachana Ranade is a highly respected figure in the world of personal finance education. With a strong background as a Chartered Accountant, she is one of the top finfluencers in India. She offers insightful analysis and practical tips on investing, tax planning, and personal finance management. Her approachable style and ability to simplify complex financial concepts have earned her a massive following. She frequently engages with her audience through live streams, making her content both interactive and educational.
2. Pranjal Kamra
Age: 28
Qualification: LLB
Number of Followers: 2.83 million
Avg No. of Videos Per Month: 3-4
Base: RAIPUR
Pranjal Kamra is a legal and financial expert who has become a finfluencer of India. With a background in law, he brings a unique perspective to the world of finance, often discussing the legal aspects of financial planning and investment. His content is particularly popular among young investors looking to start the journey of the stock market and personal finance.
3. Mukul Malik
Age: 34
Qualification: MBA
Number of Followers: 2.45 million
Avg No. of Videos Per Month: 5-6
Base: DELHI
Mukul Malik is an MBA graduate known for his expertise in strategic investing and financial planning. The content of this social media influencer focuses on market analysis, investment strategies, and economic trends, catering to both novice investors and seasoned professionals. Malik’s simple and analytical approach makes him a trusted source for financial insights.
4. Varun Malhotra
Age: 39
Qualification: MBA, CFA
Number of Followers: 3.7 Lakh
Avg No. of Videos Per Month: 1
Base: GURGAON
Varun Malhotra combines his MBA and CFA credentials to provide in-depth analyses of financial markets and investment opportunities. Though he posts less frequently, his content is highly valued for its depth and rigor. Malhotra often offers knowledge on advanced topics in finance. This makes his channel a go-to resource for serious investors looking to deepen their understanding of market dynamics.
5. Ankur Warikoo
Age: 40
Qualification: MBA
Number of Followers: 6.98 Lakh
Avg No. of Videos Per Month: 12
Base: FARIDABAD
Ankur Warikoo is a multifaceted entrepreneur and educator who blends financial advice with life coaching. He is one of the most popular Finfluencer of India. His content offers insights on a broad range of topics, from investing and entrepreneurship to productivity and personal development. Warikoo’s engaging storytelling and relatable content have made him a favorite among audiences looking for holistic advice on both financial and personal growth.
Final Line:
These Finfluencers can help you get financially educated leading you to a path of savings, investment, money-mindedness, and ultimately growth. However, we warn you against fraud and misleading content.
Also read our blog: Union Budget 2024-2025 Simplified: Key Points Every Indian Citizen Must Know
