The Reserve Bank of India (RBI) on May 04, 2026, issued a notification regarding unauthorised and misleading campaigns promising Loan Waivers.
The following has been stated:-
•The Reserve Bank of India has cautioned the public against fraudulent campaigns falsely promising loan waivers.
•Such schemes mislead people, issue fake debt waiver certificates, and collect fees under false pretexts.
•RBI clarified that these claims are illegal and can lead to financial loss while harming the credit system.
•The public is advised to avoid such entities, contact lenders directly, and report such activities to authorities.
The detailed notification is given in the document below.
[Notification No.: 2026-2027/199]
