IT IS A TRUTH, almost universally acknowledged, that technological change is always a few steps ahead of regulations. The capital markets are no exception, which is why regulators the world over are a busy lot as they try to keep pace with the changes.
Whether it is India's own Securities and Exchange Board of India (Sebi), the Securities and Exchange Commission (SEC) of the US, the Financial Conduct Authority (FCA) in the UK, or the Australian Securities & Investments Commission (ASIC), one particular concern appears to be on top of their minds-the growing influence of financial influencers, or finfluencers.
Put simply, these are individuals who influence the financial investment decision of a person or entity by doling out content typically through social media platforms like YouTube, Instagram, Telegram, or X (formerly Twitter).
In India, finfluencers barged onto the capital markets arena in 2020, when they received a significant boost after the Covid-19 pandemic and subsequent lockdowns. Confined to the comfort of their homes and relieved from the drudgery of the daily commute, salaried professionals suddenly found time for side hustles or trading in the markets, leading to a huge increase in the number of retail investors in the stock market, who either sought to make a quick buck or were forced to reconsider their investment approach considering the uncertainty that suddenly enveloped them.
And the market obliged. After a steep plunge in March 2020, it rallied stupendously for the rest of the year, fuelling the increase in first-time investors. That, in turn, created a hunger for investment advice, and finfluencers filled the breach. Cut to 2023, and some of the top finfluencers have attained cult status, boasting follower counts that dwarf those of some of the biggest brokerage firms.
This story is from the October 01, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 01, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Haute Couture in the Kitchen
FASHION BRANDS ARE ENTERING THE RESTAURANT SPACE, AS FOOD SEEMS TO HAVE BECOME THE ULTIMATE FASHION STATEMENT
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
FOSTERING PLURALISM
Axis Bank, with its initiatives and policies, is striving to make a holistic difference to people's careers and hone their skills too
In Keeping With The Times
With a slew of initiatives for its employees, Abbott India is working hard to build a diverse and inclusive workforce
