A viral post is making the rounds in social media, claiming that you can get a high-return from investing in the ‘Quantum AI’ scheme backed by Finance Minister Nirmala Sitharaman. The post states that Sitharaman has suggested that investors can turn an investment of Rs 22,000 in the ‘Quantum AI’ scheme into Rs 40 lakh with zero risk and government guarantee. Sounds too good to be true, right?
In a social media post on X (formerly Twitter), the PIB Fact Check team posted: “A viral claim is doing the rounds on the internet, promoting a 'Quantum AI' investment scheme in the name of Union Finance Minister, and is promising a return of Rs 40 lakh on an investment of Rs 22,000 with no risks and a 100% government guarantee. This claim is fake.”
The Finance Minister’s promise in the social media post might seem tempting, but the post is fake and she has never made such a claim.
The PIB Fact Check team has confirmed that there is no such scheme backed by the government or endorsed by the Finance Minister.
The fact check team has advised people to stay away from the scheme and to verify its facts from authentic sources.
“If you come across any such misleading content related to the Government of India, report it immediately: WhatsApp: +91 8799711259, Email: factcheck@pib.gov.in,” says the PIB Fact Check team.
Why people should stay away from such fake claims
Such viral claims on social media follow a familiar pattern, often seen in online investment scams where they use voice, image or a video of a well-known public figure making claims of exaggerated returns to gain trust quickly.
Experts caution that any scheme promising unusually high returns with ‘no risk’ should be treated with extreme suspicion.
The government and regulatory bodies repeatedly warn investors to remain alert against such misleading advertisements. Fraudsters often create professional-looking websites or write fake news articles to make these schemes appear legitimate. Once a person signs up or shares their personal and banking details, they may fall prey to financial fraud.
SBI also warns customers against online frauds
The State Bank of India (SBI) has warned its customers to not fall for too-good-to-be-true investment offers. SBI says such claims are often scams.
In a social media post on X, SBI says: “Don't fall for promises of high returns. Always verify before you invest. Research, cross-check and stay cautious. To report a cybercrime incident, call cybercrime helpline number 1930 or visit: https://cybercrime.gov.in.”
https://x.com/TheOfficialSBI/status/2049058543123513400
What to do if you fall victim to an investment scam
According to the AU Small Finance Bank’s website, if you suspect or confirm fraud, act immediately:
Inform your bank or card issuer
Report the scam on the cybercrime reporting portal
File a complaint with SEBI or RBI, if applicable
Save all transaction details, messages and screenshots
Early reporting improves the chances of limiting losses
Red flags: Warning signs of an investment scam
According to the AU Small Finance Bank’s website, if you notice any of the following, do not invest
- Guaranteed or risk-free returns
- Pressure to invest immediately
- Lack of regulatory registration
- Requests for payment via UPI, crypto or personal accounts
- No clear business model or documentation
