Rs 20 lakh income from Rs 21,000 investment! Has Finance Minister launched this promising scheme? Know what PIB says

With the advent of artificial intelligence (AI), scammers are using deepfake videos and fake celebrity endorsements to lure people into fraudulent, too-good-to-be-true investment schemes. And this time, they reached greater heights, using fake videos of none other than Finance Minister Nirmala Sitharaman. Several videos circulating on Facebook have been falsely claiming that Sitharaman is backing schemes that guarantee returns as high as nearly 3x just in a day and 100x in a month.

The PIB Fact Check team has said that it’s a scam using digitally altered fake videos. It has advised people to stay alert and not to fall prey to any such suspicious promotional claims.

Also read: Is there a new government scheme offering earnings of Rs 10,000 per day? PIB clarifies

In a video making the rounds on the internet, Sitharman can be seen saying that an investment of Rs 22,000 could generate Rs 60,000 in a day and approximately Rs10 lakh per month if people use a smart trading platform.

In another video, Sitharaman, in an interview, can be seen promoting the ‘QuantumAl’ investment platform, suggesting investors can make up to Rs 20 lakh per month by investing just Rs 21,000.

The Fact Check division of the Press Information Bureau (PIB) has stated that both videos are fake, establishing that they are fraudulent, manipulated, and deceptive. It says that no such programs have been introduced or approved by the government or the Finance Minister.

Video claims investors can get Rs 10 lakh/month

According to a PIB Fact Check post on social media X, “A video circulating on Facebook claims that the Union Finance Minister is promoting an investment program promising that an investment of Rs 22,000 can help you earn up to Rs 10 lakh per month!”

PIB Fact Check team’s warning
The video has been identified by the Press Information Bureau’s (PIB) Fact Check team, as fake and digitally altered. The team says in its post on X.

“No such plan has been approved or started by the finance minister.
The Indian government does not have such a scheme.
The video that is becoming viral is an attempt at deceiving the public.”

Is Finance Minister Nirmala Sitharaman really promoting the ‘QuantumAl’ Investment platform?

According to a PIB Fact Check team’s post on the social media platform X, “A video circulating on Facebook and other social media platforms shows Union Finance Minister Nirmala Sitharaman allegedly endorsing an investment scheme called ‘QuantumAl’. The video claims that by investing Rs 21,000, users can earn returns as high as Rs 20 lakh per month.”

PIB Fact Check team warns against fake video
The Press Information Bureau (PIB) Fact Check unit has issued a warning, categorically stating that the viral video is fake and digitally manipulated. The Finance Minister or the Government of India has not launched or endorsed any such platform, the fact check team says in its post.

Financial experts say that, before using any such financial platforms or schemes, prospective investors should be extremely cautious and do extensive research. These kinds of claims can be alluring, but it’s important to proceed cautiously and do extensive research before investing money. Since they frequently include high risks or possible scams, many of these offerings might not be quite as straightforward as they seem to be