A government campaign urging digital platforms to raise awareness to rein in the growing popularity of influencers peddling financial advice itself required government intervention on Monday.

Confusing? Let us break it down for you:

A public interest campaign by YouTube, featuring “fininfluencer” Rachana Ranade, asking consumers to “trust only real experts” drew flak on Twitter as the ad, seemingly endorsing Ranade as one such “real expert”, was followed by logos of the IT ministry and India's G20 presidency.

The campaign, which appeared on the front pages of several newspapers, read: “There are real as well as fake experts on the internet. Spotting the difference between the two can be tricky. So, before you trust any self-proclaimed expert, know a little more about them.”

The criticism prompted Minister of State for Electronics and IT, Rajeev Chandrasekhar, to immediately clarify that it was not an endorsement, urging “more careful” use of government logos in campaigns by private platforms.

“@GoI_MeitY encourages all digital platforms to create awareness of Safe&Trust And Accountable #Internet and is supportive of all genuine campaigns/advocacy for this but that is not an endorsement,” Chandrasekhar tweeted.

The campaign was part of MeitY's Stay Safe Online initiative, which aims to raise awareness about cyber risks and promote cyber hygiene amid a growing wave of “finfluencers" who promise quick financial gains offering stock advice, analyzing companies and providing investment tips backed by personal success stories.

It has been a challenge for the government to regulate unverified advice by influencers and YouTubers with thousands of followers, who are likely to follow their recommendations blindly disregarding market conditions and individual financial portfolios.

India’s markets regulator has already pulled up several such “finfluencers” for market manipulation over the past few years and wants to regulate the burgeoning industry to protect investors’ interests. (Read more: The unchecked rise of India’s ‘finfluencers’). Recently, SEBI imposed a one-year ban on P.R. Sundar, a financial influencer with a million followers on Youtube, for allegedly offering advisory services without regulatory registration. He was also ordered to refund fees totaling Rs 6.08 crore, including interest.

While SEBI is yet to present a proposal to the Ministry of Finance on how it will go about such regulation, reports indicate that it plans to direct brokers and mutual funds to limit the use of financial influencers in advertising and marketing campaigns. Additionally, SEBI Chairperson Madhabi Puri Buch recently hinted at upcoming measures to rein in unregistered investment advisors, saying "there is something cooking in the oven."