That's the direction from the Reserve Bank. "Any claim a bank makes, say while launching a product, in its ad has to be corroborated with evidence.
A mutual fund talking about its performance has to give three year performance data," said the chief marketing officer of a large financial services group.
"Even a sitcom artist or a junior actor may be considered a celebrity if the person has a following.
#The 10x rule ad movie#
While banks are free to hire movie stars and cricketers to endorse the organisations, mutual funds and stock brokerages avoid it. This could include staying away from celebrity endorsements," said the founder of another exchange.Īdvertisement rules for financial services companies, though differ with the nature of the product, are driven by regulatory directions. "The advertising norms applicable for other financial assets can be replicated for cryptos.