The Reserve Bank of India (RBI) has raised alarms regarding unauthorized campaigns that falsely promise loan waivers, emphasizing the serious risks these pose to individual borrowers and the overall stability of the lending system. In a statement, the RBI expressed its deep concerns about misleading outreach by certain individuals and entities, particularly through social media and direct channels. These entities often charge borrowers for securing so-called loan waivers or issuing debt waiver certificates, which can mislead borrowers into believing they can eliminate their debt obligations outside of formal processes. The RBI cautioned that such misleading campaigns not only confuse the public but also disrupt the orderly functioning of India's credit system. The central bank has warned that legal action could be taken against those who engage in these deceptive practices.