NSE Issues Cautionary Alert for Investors Against Unregistered Entities Promising Assured Returns

Mumbai, 13th December 2024: The National Stock Exchange of India Limited (NSE) has issued a warning to investors regarding unauthorized individuals and entities offering securities market tips and assured returns. The Exchange has flagged the activities of individuals named “Rakesh” and “Rajiv Singh,” associated with an entity called “Money Financial,” operating via the mobile number 8827049140. Similarly, another individual named “Sudip,” claiming to represent an entity called “MS Trader,” is reportedly operating through the mobile number 9165221831.

These individuals and entities have been found to be providing stock market tips, promising guaranteed returns on investments, and asking investors to share sensitive trading credentials, including Login IDs and Passwords.

The NSE has strongly advised investors to exercise caution and avoid subscribing to any schemes or products offering indicative or guaranteed returns, as such practices are prohibited by law. Investors are also reminded not to share their trading account credentials with anyone under any circumstances.

The Exchange clarified that the aforementioned individuals and entities are not registered members or authorized persons of any NSE-recognized trading member. Investors are urged to verify the authenticity of trading members and authorized persons using the “Know/Locate Your Stock Broker” facility available on the NSE’s official website at nseindia.com. This portal also provides information about designated client bank accounts disclosed by trading members for secure transactions.

The NSE emphasized that participation in such unauthorized schemes is at the investors’ own risk, cost, and consequences, as these schemes are neither approved nor endorsed by the Exchange.

The Exchange reiterated that investors participating in such schemes will not be eligible for:
Investor Protection Benefits under the NSE’s jurisdiction.
Dispute Resolution Mechanism offered by the Exchange.
Investor Grievance Redressal Mechanism administered by the NSE.

For further guidance and updates, investors can access the consolidated list of NSE press releases under the “Advisory for Investors” section on the Exchange’s website at nseindia.com.

The NSE urges investors to remain vigilant, verify the credentials of market intermediaries, and avoid engaging with unregistered entities to safeguard their investments.