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RBI cautions against misleading campaigns promising loan waivers

Attention all borrowers! The Reserve Bank of India has flagged a concerning trend involving fraudulent loan waiver initiatives. These duplicitous campaigns claim to erase debts owed to banks and non-banking financial companies (NBFCs) but are merely traps set by dishonest individuals aiming to profit through false promises and upfront fees.

4 May 2026 7:22 pm