India’s legion of monetary influencers are as soon as once more underneath the highlight because the nation’s market regulator ramps up motion towards unregistered advisors allotting funding tips about social media.

The Securities and Exchange Board of India final week barred Mohammad Nasiruddin Ansari and two different entities linked to him from the market and ordered them to refund 172 million rupees ($2.1 million) taken from followers. Ansari’s YouTube channel has near half-a-million subscribers. His internet portal supplied funding recommendation underneath the guise of providing educational training, Sebi mentioned.