RBI Cautions Investors, ‘Deepfake videos’ of Governor Shaktikanta Das Circulating on Social Media

In this regard, a statement issued by RBI said, “Reserve Bank of India has come to know that fake videos of the Governor are being circulated on social media in which it is claimed to launch some investment schemes with the support of RBI. “In these videos, an attempt is being made to advise people to invest money in such schemes.”

Deepfakes are videos, photos, or audio created or edited, usually using AI tools, that mimic real or non-existent people. RBI has also clarified that none of its officers is involved in such activities. Along with this, RBI has asked people to be cautious and avoid such posts on social media. Last year, the central government had also warned Facebook and YouTube about deepfakes. Social media platforms including Facebook and YouTube were told that deepfakes and posting content that spreads obscenity or misinformation are prohibited under the country’s law.

Minister of State for IT Rajeev Chandrasekhar had said that many social media companies have not updated the terms and conditions for their users despite the rules being implemented last year. Under these rules, content that is harmful to children, obscene or imitating another person is banned. Chandrashekhar said that these companies should increase awareness about these rules and tell the users when they log in that they cannot post such content. With the use of AI, cases of making fake videos of politicians and celebrities have also increased. The government is preparing to make new regulations against this. Under these regulations, fines can be imposed on the platforms that create deepfakes and host them.