India, May 1 -- There's a line between sound and poor investment advice and when fintech gurus or 'finfluencers' cross this line only to manipulate their followers, SEBI tends to crack the whip. That's the hard truth learnt by subscription-based influencer and creator platform Rigi.

Founded by Ananya Singhal and Swapnil Saurav in 2021, Rigi has pulled the plug on its core finfluencer platform after such unregistered creators came under SEBI's glare.

The public markets regulator has issued several notices since 2023 to unauthorised investment advisors or finfluencers associated with Rigi for giving advice to retail investors via private Telegram channels.

And just a few months after launching a dedicated app only for SEBI-registered adv...