There have been rumours circulating over social media regarding closure of commercial banks. The banks listed in this rumour are IDBI, Corporation Bank, UCO Bank, Andhra Bank, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, Dena Bank and United Bank of India. Public is in panic regarding the closure of these banks after messages were being circulated over Whatsapp media.

RBI has rejected these rumours and has appealed not to pay attention to these messages which are going viral over social media. RBI even clarified that “there is no question of closing public sector banks” which are “articles of faith”.

“On Tuesday, RBI cracked the whip on Mumbai-based PMC bank by imposing restrictions on its operations for six months. As per the announcement, the bank cannot issue a loan or open fixed deposit accounts for the next six months. However, what has led to panic among the co-operative bank’s customers is the fact that RBI has set Rs 1,000 as withdrawal limit on transactions from each account for the period. This has triggered panic among thousands of the bank’s customer as local police had to deploy security personnel to control protesting bank customers.” as stated in most of the authentic sources.

Masses are requested not to panic and not circulate such type of news over social media. Instead let everyone know that this is merely a rumour spreads by some mischievous element.

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