India's New Guidelines for Social Media Influencers. | Social Media Influencers.

India's New Guidelines for Social Media Influencers

The government is preparing to bring guidelines for social media influencers. These guidelines will apply to financial influencers as well as influencers working in other disciplines. In the guideline issued by the government, a roadmap will be prepared to protect consumer rights.

 

Every social media influencer must include a disclaimer with every post, stating whether or not a favor has been solicited for brand promotion or stock recommendation, as well as disclosing the influencer's relationship with the relevant company or product Will happen. If the influencing influencer violates this guideline, then the government can take action at its level.

 

If influencers violate the rules, they can be fined up to ₹50 lakhs. What are influencers posting and following the guidelines or not? CCPA will keep a close watch on this too. Not only the Central Government but also SEBI itself is keeping an eye on this. Who is called a Finn Influencer? 

SEBI is also considering bringing guidelines for them. This information has been given by SEBI board member SK Mohanty himself. Through SEBI's guidelines, efforts will be made to curb those fin influencers who advise investing in the stock market without knowledge. Guidelines also become necessary because many complaints have been received in the past regarding content related to finance. 

Guidelines for social media investors also become necessary because today everyone turns to social media platforms for information. In such a situation, no one can shirk the responsibility of an influencer. If the Influencer share information of share market related as well, then they have to take the responsibility for this. For this, it was necessary to have guidelines. 

In the financial year 2022, 415 such cases were reported in which rules were violated by influential people and celebrities. These violations were more in finance and cryptocurrency, but it has been observed in other industries as well that regulations are ignored in favor of other products or services. Guidelines are also important because the number of influencers is also increasing continuously. 

Nowadays everyone calls themselves an influencer and for them, the convention of influencers is their followers. If you have more followers then you come in the category of influencer. Even people call themselves macro and micro-influencers. If you are an icon with fewer followers than you are a micro or macro influencer.

 

And in this way, brand endorsement through barter collaboration or another kind of collaboration, endorsement of a product or service is very common, but the government was continuously working to fix responsibility for it and now these guidelines are coming. Along with bringing guidelines for social media influencers, the government is also working on making it easier for customers to lodge complaints.

 

The government is considering bringing a portal for this. Soon a framework can be prepared for this and it will be in front of everyone. How important were these guidelines as we are telling you that the number of influencers is increasing continuously? Everyone is calling himself an influencer and as we know earlier it was not possible that if someone has one million followers or at least 1 lakhs or 2 lakhs then he is considered an influencer.

But today's date, 10,000-15,000 even those less than this are called micro and macro influencers, so the scope of this industry is huge. Now we know how important these guidelines are. Now our digital India has come a long way. If you are promoting a new company, then whatever the responsibility, you have to take responsibility. 

The people who influence it always feel that we have no role to play. Maybe the information is related to the product so it was necessary to make guidelines for them so that they also come under the purview of the law and as we know after this the fine has been fixed up to ₹50 lakhs. 

They will see that they have to take responsibility for the product or stock they are promoting. Keeping these things in view, the government has taken a good decision and work is also being done on new guidelines and measures to improve them, which may look different after issuing the guidelines. 

This is a good initiative and it is coming on National Consumer Day, as you would know that 24 September is celebrated as National Consumer Day in India. Its significance increases because nowadays many people do not even know whose advice they are buying a product, availing a service, or watching a promotional video. And how much can they impact their decisions in their lives? 

With your knowledge, with your position, or with the relationship, many people also say that, sir we have a relationship with the audience. And by using your authority, knowledge, position, or word relationship, in the decision-making power of the audience, you are influencing their purchasing decision or purchasing opinion.

You guys need to understand this. But social media influencers have been fined up to ₹50 lakhs for violating the rules. Which will be possible only in some cases. ₹50 lakhs will be less than in the second case. Is it okay, do you think it is correct or should it be increased further? What is your opinion about this? Do let us know by commenting on our site www.tradeipohub.co.in.