The Reserve Bank of India (RBI) has alerted the public about ongoing fraudulent activities involving false loan waiver claims. These scams involve individuals and entities promising to waive outstanding dues to banks or non-banking financial companies (NBFCs) and offering 'debt waiver certificates' for a fee. The RBI emphasized that these claims are misleading and can disrupt the credit system's orderly functioning. The regulator urged individuals to verify information directly with their lending institutions to avoid falling victim to these scams. The RBI reiterated that engaging with such fraudulent entities could lead to significant financial losses and warned that legal action may be pursued against those making these deceptive claims. This warning follows earlier alerts issued in 2023 regarding similar fraudulent practices.