Google will label verified investment apps on the Play Store in India, a move aimed at helping users spot legitimate trading platforms and avoid scams.
ALSO READ | Explainer – What comes next after the social media trial verdicts?
Launching Google’s initiative on Wednesday, Sebi chairman Tuhin Kanta Pandey said fake apps are a “serious threat” and urged technology firms to work with financial regulators for investor protection.
“Fake apps are now a serious threat and can cause irreparable financial harm,” he said.
ALSO READ | Bot on earth?: Check out Gemini’s melodrama, Claude’s fibs, in an AI village experiment
“Regulators, intermediaries and Big Tech must work together as investor protection is a shared responsibility.”
The initiative will ensure that apps on the Play Store have a verified badge and that a user can safely transact after seeing the badge, he added.
(AGENCIES)