You are here: Home » Current Affairs » News
CCI to start looking into anti-profiteering steps under GST from next month
Influential people get all kinds of favours: Ex-law officer of Tihar Jail
Business Standard

Centre likely to release guidelines for social media influencers next month

Additionally, the Securities and Exchange Board of India (Sebi) is also planning similar norms for online financial advice providers or finfluencers

Securities and Exchange Board of India | ASCI | Financial Advisor

BS Web Team  |  New Delhi 

influencers, marketing, ads, advertising, product placement, sales, advertising, advertisements, digital content creators, social media
Representative Image

The Centre will reportedly release the guidelines for governing social media influencers in December. According to a report in Mint, the guidelines will impose "stiff fines" on those found flouting the norms. The guidelines are in the final stages of finalisation.

The norms will focus on disclosing brand partnerships.

"These days, young people make purchase decisions based on social media content put out by influencers. Unlike in the case of an actor endorsing a product in a television ad, it is difficult to figure out if the influencers actually use the products or not. Sometimes, people may not know the influencer, unlike in the case of actors; so, disclosure is going to be very important," a person aware of the matter, told Mint.

Additionally, the (Sebi) is also planning similar norms for online financial advice providers or finfluencers, who may be fined Rs 10 lakh if they fail to mention their association with a brand. For repeat violations, the fine may go upto Rs 50 lakh.

On November 4, Business Standard had reported that finfluencers have the power to influence stock prices. This posed a regulatory dilemma to Sebi.

The Advertising Standard Council of India (ASCI), a self-regulatory body, suggested upfront disclosures on brand collaborations, advertisements, paid partnerships or sponsorships.

In its latest report, said that 28 per cent of ad violations in India were done by "influencers". The highest came from personal care followed by food and beverage and virtual digital assets.

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, November 24 2022. 11:20 IST