RBI Warns Against Fake Loan Waiver Campaigns

Press Release 2026-2027/199, Dated: 04.05.2026

The Reserve Bank of India (RBI) has reiterated its caution to the public against unauthorised and misleading campaigns that falsely promise:

• Loan waivers, or
• Issuance of so-called debt waiver certificates

1. Nature of the Fraudulent Activities

The RBI has observed that certain entities:

• Mislead borrowers with false assurances of loan settlement or waiver
• Collect money by charging:

1. 1. Processing fees
   2. Registration fees
   3. Other amounts under various pretexts

2. Regulatory Warning

RBI has clarified that:

• Such activities are unauthorised
• Entities engaging in them may face legal and regulatory action

3. Advice to the Public

Borrowers are advised to:

• Avoid dealing with unverified organisations or intermediaries
• Contact their respective banks or lending institutions directly
• Seek accurate information regarding:

1. 1. Loan status
   2. Repayment obligations
   3. Any legitimate relief measures

4. Objective of the Advisory

The caution aims to:

• Protect consumers from financial fraud and exploitation
• Promote awareness and responsible borrowing practices

5. Conclusion

The RBI’s advisory reinforces the need for borrowers to remain vigilant against fraudulent loan waiver schemes and rely only on official communication from regulated financial institutions.

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