New Delhi, Oct. 1 -- Who are Indians listening to for investment advice? Not the traditional financial experts. A survey by the Securities and Exchange Board of India (Sebi) reveals that a massive 62% of retail investors are making decisions based on recommendations from social media's finfluencers, bypassing formal channels and highlighting a profound trust deficit.

The Sebi Investor Survey 2025 has also laid bare the great Indian investor paradox. Awareness of securities products is at a record high (63% of households), yet risk aversion, concerns over market complexity, and that lingering trust deficit continue to keep most households on the sidelines of India's growth story. Actual participation is a mere 9.5%, meaning 213 million ho...