Business News | Beware of Unregistered Stock Market Tips Scheme on Telegram: NSE
Get latest articles and stories on Business at LatestLY. According to a press release by NSE, the Exchange has brought attention to the fact that subscribing to such schemes or products offering indicative, assured, or guaranteed returns in the stock market is prohibited by law.
Mumbai (Maharashtra) [India], January 2 (ANI): The National Stock Exchange of India Limited (NSE) issued a cautionary notice to investors regarding a Telegram channel named "Premium By Vijay," which is allegedly providing securities market tips for trading along with promises of assured returns on stock market investments.
According to a press release by NSE, the Exchange has brought attention to the fact that subscribing to such schemes or products offering indicative, assured, or guaranteed returns in the stock market is prohibited by law.
Investors are strongly advised against participating in any scheme or product that claims to guarantee returns, as the individual or entity behind the Telegram channel "Premium By Vijay" is neither registered as a member nor an authorized person of any registered member of NSE.
To assist investors in verifying the credentials of market participants, the NSE provides a "Know/Locate your Stock Broker" facility on its website under the link https://www.nseindia.com/invest/find-a-stock-broker.
Also Read | AUS vs PAK 3rd Test 2024: Pat Cummins Names Unchanged Line-Up for David Warner's Farewell Test.
This tool enables investors to check the details of registered members and their authorized persons. Additionally, designated bank accounts disclosed by trading members for receiving or paying money from or to investors are also displayed under the same link.
Participation in such prohibited schemes is at the investors' own risk, cost, and consequences, as these schemes are neither approved nor endorsed by the Exchange.
Investors are reminded that for any disputes related to such prohibited schemes, they will not have access to the benefits of investor protection under the Exchange's jurisdiction, the Exchange's dispute resolution mechanism, or the investor grievance redressal mechanism administered by the Exchange.
In the interest of investors, the NSE emphasizes the importance of verifying details before engaging with any person or entity offering stock market tips or investment schemes. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)