Deepfake alert! Video of FM Sitharaman, RBI Governor endorsing investment project goes viral

Deepfake alert: A video of Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das promoting the government's 'income-generating platform' has been widely circulated on social media. 

In the video, Nirmala Sitharaman and Shaktikanta Das promote a government income-generating scheme, inviting individuals to invest Rs 21,000 in order to get Rs 15 lakh in returns within a month.

However, this video has been modified with AI-powered facial feature alterations and voice cloning. Neither Nirmala Sitharaman nor Shaktikanta Das supported such schemes. Hence, the claim made in the video is FALSE.

In an official statement, the RBI warned the public to be cautious of "deepfake videos of Top Management" that were surfacing on social media and offered financial advice. The central bank emphasised that these videos, created with advanced technology, are not genuine and stressed that the RBI does not offer any financial investment advice.

"It has come to the notice of the Reserve bank of India that fake videos of the Governor are being circulated in social media that claim launch of or support to some investment schemes by the RBI. These videos attempt to advise people to invest their money in such schemes, through the use of technological tools. The RBI clarifies that its officials are not involved in or support any such activities and these videos are fake. RBI does not give any such financial investment advice. Members of the public are, therefore, cautioned against engaging with and falling prey to such deepfake videos circulated over social media," RBI said.

Meanwhile, Nirmala Sitharaman's video was taken from an interview with News18 on September 16, 2024, in which she discussed the Indian economy, GST, Modi 3.0, and other topics. She didn't mention any government income-generating projects that promise Rs 15 lakh returns for a Rs 21,000 investment.