Quick Summary
Rishi Money is a stock market education brand led by Rishi Rai, who holds SEBI research analyst registration INH000010423, valid from 27 October 2022. Its disclosure shows one complaint received and resolved in FY 2025-26, and none in the months listed for 2026. The website shows one advisory plan at ₹3,500 a month and sends course buyers to WhatsApp. It also cites a 40 percent return in three weeks. We found no SEBI order against the firm as of 14 October 2026, which is not a clean certificate.
Many people meet Rishi Money first through a free trading video, then a Telegram channel, then a course pitch.
Before you pay for either the course or the advisory plan, it helps to separate what is teaching, what is research, and what the regulator’s record covers.
This blog goes through the registration, the complaint tables, the plan and course pricing, and the profit related wording on the website and social pages.
Use it as a set of questions to put to the firm in writing before any money moves.
What Is Rishi Money and What Does It Offer?
Rishi Money is a financial education and stock market advisory platform.
The website says it is led by CA Rishi Rai, a title we could not verify from the pages we reviewed.
The platform offers courses on stock market basics, technical analysis and advanced trading, with a focus on risk management and disciplined investing.
It also offers a premium advisory service on the Nifty, Bank Nifty, stocks and options.
The website claims more than 60 modules, 340 hours of content and 600 course graduates.
These are the firm’s own figures, and we could not check them.
Two Products Under One Name
Education and research are different services.
A course teaches you a method, while a research service gives you views on specific securities, and the second is the one a research analyst registration covers.
Ask the firm which of its offers fall under the registration and which are plain education.
That tells you which rules apply when something goes wrong.
How Advice Reaches You
The firm offers live advisory by WhatsApp and calls, together with daily levels and trend analysis.
A call or a message can move quickly, so ask how each recommendation is recorded for you to look back on.
SEBI expects a research analyst to keep a rationale for each recommendation.
Ask to see an example, with client details removed.
Where You Can Find The Brand
The website links to Instagram, YouTube and Telegram.
The social pages carry a lot of the brand’s promotion, which is covered in its own section below.
Is Rishi Money SEBI Registered?
The SEBI listing we reviewed records the firm as a research analyst. Confirm the points below on the regulator’s site before you rely on them.
- Registration number is INH000010423. The INH prefix marks a research analyst, unlike INA for an investment adviser or INP for a portfolio manager.
- Registered name is Rishi Rai, and the brand name Rishi Money does not appear as the registered name. Make sure your payment page shows the name that matches the listing.
- Validity runs from 27 October 2022 and is listed as perpetual. The registration is therefore just under four years old as of October 2026.
- Address is on the first floor of a building in Sector 14, Vasundhara, Ghaziabad 201012, which is also the correspondence address. The listed email is on a free mail service.
You can run the check yourself in a few minutes.
A SEBI research analyst inh number search lets you enter INH000010423 and compare the name, category and validity with what is described here.
A SEBI registered company search or a SEBI registered list on the regulator’s own pages does the same job.
A brand name is easy to print on a page, so the number and the status matter more.
Registration shows that the person is permitted to give research.
It does not cover courses as such, and it never promises results.
What Do the Numbers in Rishi Money’s Complaint Tables Leave Out?
Complaint tables show how many grievances reached the firm and what became of them.
The firm publishes a monthly trend and an annual trend, and both are read below with the numbers added up again.
The monthly trend lists three recent months and one lump row.
Read the columns as carried forward, received, resolved and pending.
|
Period |
Carried forward | Received | Resolved | Pending |
|
August 2026 |
0 | 0 | 0 | 0 |
|
July 2026 |
0 | 0 | 0 | 0 |
| June 2026 | 0 | 0 | 0 |
0 |
| Earlier months of FY 2025-26, grouped | 0 | 1 | 1 |
0 |
| Total | 0 | 1 | 1 |
0 |
The annual table shows the same story.
It lists FY 2025-26 with one received and one resolved, and zero for FY 2024-25 and FY 2023-24.
|
Financial year |
Carried forward | Received | Resolved | Pending |
|
FY 2025-26 |
0 | 1 | 1 | 0 |
|
FY 2024-25 |
0 | 0 | 0 |
0 |
| FY 2023-24 | 0 | 0 | 0 |
0 |
| Grand total | 0 | 1 | 1 |
0 |
The monthly and annual totals agree on one complaint, received and resolved.
What The Grouping Hides
The monthly view lumps the earlier months of FY 2025-26 into one row.
So you cannot tell in which month the complaint arrived, or how long it took to close.
Ask the firm to show the month and the time taken. A one line answer is enough.
Missing Rows
The registration dates from October 2022, but the annual table has no row for FY 2022-23.
It also has no row for FY 2026-27, although June to August 2026 appear in the monthly view.
The website does not explain either gap. It is reasonable to ask whether the zero history applies to those periods.
How To Read One Complaint?
One complaint in about four years is a small number, and a count alone does not show quality.
The disclosure does not say how many clients the firm serves, so you cannot weigh it against size.
The tables also do not describe what the complaint was about or how it ended.
A single resolved complaint cannot establish misconduct, and it cannot establish a clean record.
SEBI expects monthly figures by the 7th of each month.
The latest month shown is August 2026, so September should be visible by now.
Anyone who ends up with a dispute can follow our guide to a SEBI complaint against research analyst, which sets out the stages in order.
It is worth a look before you commit money.
No SEBI order against the firm turned up in our search of public records as of 14 October 2026.
Our search was limited, so please check SEBI’s site yourself.
Also Read: K P Research Analysis Services has Four complaints that are marked resolved, but the complaint table’s grand total shows zero.
Rishi Money Fees, Courses and Pricing
The website currently shows one Premium Advisory plan at ₹3,500 for one month.
It covers Nifty, Bank Nifty and stock recommendations.
That price is low next to the yearly cap that SEBI sets on research analyst fees.
The cap is ₹1,51,000 per client per family per year, and twelve months at ₹3,500 comes to ₹42,000.
The Buy Course Button
A Buy Course button also appears, but it opens WhatsApp and not a page with course details.
The courses and their prices are not shown on the website itself.
A buyer cannot compare what a course covers, how long it runs or what it costs before starting a chat.
For a registered research analyst’s site, showing the offer on the page is a fair expectation.
Keeping The Two Fees Apart
Ask for a written statement that separates the course fee from the advisory fee.
The cap applies to research fees, and a clear split helps you see what counts toward it.
Also ask whether buying a course gives you free access to the advisory service, or the other way round.
Bundles blur what you have paid for.
Items To Get In Writing
A short email covering these four points is worth sending before you pay.
- The full price of any course, with GST shown separately.
- The list of modules, hours and the expected duration.
- The refund terms for both the course and the advisory plan.
- The name of the receiving account, checked against the registered name.
Where a disagreement over money stays alive after the firm’s answer, the SMART ODR portal offers a neutral conciliator to look at your records, so keep them together.
Rishi Money’s Profit Claims: What the Website Actually Shows
SEBI’s rules cover how a research analyst advertises, and they expect fair and balanced messages.
The website carries several statements that a careful reader may want to weigh.
We are not saying any rule was broken here.
These are lines where the message received may differ from the message meant.
1. The 40 Percent in Three Weeks Claim
Under Real Results, the website says its strategies helped a person earn about 40 percent in three weeks.
One result like this can feel convincing.
Try a small calculation. If a 40 percent gain in three weeks could repeat for a year, about 17 such periods would multiply money by more than 300 times, which no market offers.
That shows why a single result is not a guide to what you can expect.
Ask the firm for the range of results across all clients, losses included.
2. Profit Making and How to Earn
The About section stresses risk management and profit making, and the Why Rishi Money section says users are taught how to earn.
The emphasis falls on earning, and less on what can go wrong.
A balanced page puts the risk of loss as close to the word profit as it can.
Ask the firm to show where its materials do this.
3. Courses Behind a Chat
Because the course page redirects to a chat, details that would normally sit on a web page are given in a private conversation.
Keep a written copy of anything promised there.
Rishi Money’s Instagram and Telegram Promotions: What Investors Should Check
The brand’s social pages show how it promotes itself day to day. Our research notes three features worth weighing.
None of this is a finding about the quality of the research. It is a description of the content as we recorded it.
1. Testimonials on Instagram
The Instagram account shows client testimonials, including screenshots of WhatsApp chats in which clients praise the advisory and say they made profits.
A handful of positive screenshots is a selected view.
Ask whether the firm shows losing trades and unhappy clients with the same prominence.
2. Profitable Trades on Telegram
The Telegram account regularly posts profitable trades with screenshots of the results.
This can create an impression that most calls succeed.
A fair record would show every call in a period, with entry, exit and stop loss, so you can see the full picture.
3. The VIP Channel
The Telegram page repeatedly promotes a VIP channel, and at times presents it as a free channel while urging people to join.
The research views this as a point of concern from a research analyst compliance perspective.
Before joining any channel, ask whether it is free or paid, what you get in each and who is responsible for the calls. Keep the reply.
Reviews of Rishi Money
The research behind this blog holds no client reviews, so we describe none. Please do not read that gap as praise or criticism.
Look across more than one platform for dated reviews.
How a firm handles a critical review often tells you more than its good ones.
Paid for a course or a plan and the results do not match what you were shown?
Our team reviews your payment proof, the chats and the plan terms, drafts a written grievance to the analyst, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
Questions to Ask Rishi Money Before You Pay
What the firm leaves unsaid can become what you ask. Put the questions below in an email and keep the answers.
1. Which of your offers are covered by the registration?
Ask which products are research under INH000010423 and which are education. The answer tells you which rules apply.
2. What does the course cost and cover?
Ask for the price, the modules, the hours and the refund terms in writing, since the website does not show them.
3. Can I see all results, not just the best?
Ask for a dated record of all calls in a period, with losses included. Screenshots of wins are not a full record.
4. Is the VIP channel free or paid?
Ask who runs it, what it offers and whether its calls are covered by the registration.
5. How are disputes settled?
Ask whether arbitration is the stated way to settle disputes. Our explainer on arbitration in share market shows what you would be agreeing to.
How To Contact Rishi Money and Escalate a Grievance?
The SEBI listing shows an address in Ghaziabad and an email address for the contact person.
Use email, and keep every reply even if you also chat on WhatsApp.
Give your name, payment reference, the issue and what you want done, and set a fair deadline. Writing with dates beats a call.
Wait a fair period for the firm’s reply, then escalate if needed.
The dates on your emails speak for you.
Once your emails to the firm have run their course, the regulator’s complaint system is the next door.
You will find the steps for a SCORES SEBI complaint on our guide, along with what to attach.
Keep each response from the portal in your folder. They support you if you take the matter further.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 14 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. We could not independently confirm the platform’s course figures, the qualifications it cites, the 40 percent result, or the content of any agreement beyond what the research showed.
Conclusion
Rishi Money is linked to a SEBI research analyst registration, and its one reported complaint is shown as resolved.
The harder part is separating education from research and reading the profit wording with care, so your next step is to ask.
Before you pay, request the course details in writing, the refund terms and a full record of results.
Ask which products the registration covers, and keep every answer.
Check the registration yourself and match the payment account to the registered name.
Read the 40 percent claim and the profit screenshots as one person’s result, not a promise.
When a dispute comes up, start in writing and escalate in order.
Keep your payment proof and messages saved together.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The SEBI listing shows Rishi Rai as a research analyst under registration INH000010423, valid from 27 October 2022 and listed as perpetual. Confirm the details on SEBI's website and match the name on any payment page.
The tables show one complaint received and resolved in FY 2025-26, and none pending. The monthly view lists zero for June, July and August 2026.
The website shows one Premium Advisory plan at ₹3,500 for one month, covering Nifty, Bank Nifty and stock recommendations. Course prices are not shown on the website.
Our research could not confirm that. Ask the firm in writing which of its products are research under the registration and which are education.
The Telegram page promotes a VIP channel and at times describes it as free while encouraging people to join. Ask whether it is free or paid before you join.
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