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A global crackdown on social media money gurus begins.

Live from the UK, this is the Marketplace Global Update from the BBC World Service.

I'm Leanna Byrne. Good morning.

So the financial regulators from the UK, Australia and the UAE are teaming up this week to crack down on dodgy financial advice on social media.

They're targeting so-called fin influencers. and no, they're not shark enthusiasts or online

personalities pushing unauthorised investment tips.

The BBC's Kevin Peachy has more.

Plenty of Finfluences give financial tips on social media to large audiences, but sometimes

this can stray into illegal financial advice.

That can include a lack of authorisation and a failure to explain the risks,

all packaged in promotional posts using the pretense of a lavish lifestyle.

This week's action across six countries has led to three arrests in the UK,

and the FCA says it will result in 650 requests for

deletions from social media and 50 takedowns of websites operated by unauthorised influences.

Kevin Peachy there. Meanwhile, India's central bank has made its steepest rate cut in five years,

slashing its key interest rate by 50 basis points to 5.5%.

The move is aimed at boosting growth as inflation falls to a six-year low. The BBC's Artina Shukla

is in Mumbai and looking at this for us, hello. Hi, Leanna. This is quite a significant rate

cut, isn't it? This is a bolder than expected cut. Some of the economists that I spoke with

say that it clearly shows that growth is possibly not picking up and needs a big push. Remember,

for the last financial year that ended March, India reported its slowest pace of growth in four years

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