New Guidelines: ASCI Places Additional Responsibility On Health And Financial Influencers The Advertising Standards Council of India (ASCI) has revised its influencer advertising guidelines to place additional responsibility on advertising content of health and finance influencers.

By Kabir Singh Bhandari

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Photo by George Pagan III on Unsplash

The Advertising Standards Council of India (ASCI) has revised its influencer advertising guidelines to place additional responsibility on advertising content of health and finance influencers. The guidelines, introduced initially in May 2021, aim to help consumers identify promotional content and make informed decisions on products or services.

The guidelines have been amended in keeping with the rapidly evolving nature and extensive impact of digital platforms. Inaccurate and deceptive advertising content in categories such as banking, financial services and insurance (BFSI), and health and nutrition products and services, could significantly impact consumer well-being and financial security.

RELATED ARTICLE: Should finfluencers don the advisors' cap?

In light of these updates, financial influencers, commonly referred to as 'finfluencers', operating within the BFSI realm, can now offer investment-related advice only after being registered with the Securities and Exchange Board of India (SEBI). Their registration number must be prominently displayed alongside their name and qualifications. For other financial advice, influencers must possess appropriate credentials such as a license from the Insurance Regulatory and Development Authority of India (IRDAI), be qualified as a chartered accountant, holds a company secretaryship, etc. Moreover, they are expected to adhere to all disclosure prerequisites as stipulated by financial sector regulators from time to time.

Similarly, influencers that endorse products that make claims on health and nutrition must hold relevant qualifications such as medical degrees or certification in nursing, nutrition, dietetics, physiotherapy, psychology, etc., depending on the nature of the advice provided. Such qualifications must be disclosed prominently.

Disclaimer requirements for health and finance influencers

The influencer must disclose their qualifications and registration/certification details prominently in all types of promotional material:

●Superimposed on the visuals prominently and upfront, or mentioned as the opening remark in videos

● For blogs or any text-based posts, they should be stated upfront before the consumer has to read the post

● In the case of podcasts or a purely audio medium, they should be called out at the beginning of the advertising content

On August 11, 2023, the Department of Consumer Affairs also extended its influencer guidelines to mandate additional disclosures while endorsing health and wellness products and services. Influencers found to be in violation of the guidelines could face penalties under the Consumer Protection Act (2019).

ASCI's guidelines pertain to advertising content, where a brand or product or service is being promoted directly or indirectly, and there is a material connection between the brand and the influencer.

Manisha Kapoor, CEO and Secretary General, ASCI, stated, "As losses to consumers could be substantial and serious due to improper advice in the categories of health and finance, it is necessary that influencers in these two critical categories are qualified to provide advice and that these qualifications are stated upfront, whenever they put out such advertising posts. A "one size fits all" approach can be dangerous in these areas and consumers should only follow the advice of qualified experts when engaging with brands or products in these categories. Unlike celebrities whom consumers clearly know the fields they belong to, they may not necessarily know which influencers have the necessary qualification and expertise to provide the right advice and also inform them of any associated risks. To safeguard consumers from the consequences of advice from non-experts, these additional requirements should now be followed by health and financial influencers".

Kabir Singh Bhandari

Former Senior Assistant Editor

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

News and Trends

Healthy Food Brand Salad Days Raises INR 30 Cr Series A Funding from V3 Ventures and CAAF

With the fresh funds, the Gurugram-based brand aims to drive omnichannel expansion, open new stores, enhance technology, acquire talent, boost marketing, explore sales channels, innovate menus, and maintain profitability.

News and Trends

Chennai-Based Peaceful Progress Fund Eyes Innovation with INR 50 Cr First Close

The fund plans to invest in 25+ startups over three years, focusing on AI, IoT, FMCG, EVs, drones, and spacetech across tech and non-tech sectors.

News and Trends

Rural Lending Platform SarvaGram Secures USD 67 Mn to Expand Credit Offerings

The Series D funding was led by Peak XV Partners, with support from Elevar Equity, Elevation Capital, Temasek, and TVS Capital, reaching INR 950 crore total funding.

Marketing

7 Local SEO Strategies I've Used to Help Businesses Boost Their Revenue 10x — Especially Blue-Collar Companies

Discover actionable local SEO strategies for service-based businesses like pest control or auto glass repair. Boost visibility, reviews and leads with these tips.