RBI denies social media rumours about closure of 9 commercial banks

RBI has today clarified that the social media rumours about the closure of nine commercial banks are false.



  • RBI denies reports regarding closure of 9 banks false
  • A viral message on social media said RBI is planning to shut nine commercial banks
  • The fake message spread online after RBI cracked the whip on PMC bank

The Reserve Bank of India (RBI) has clarified in a statement today that social media rumours regarding the closure of some commercial banks are false.

A message, which says RBI is planning to close nine banks permanently, went viral on social media and resulted in panic among public in the backdrop of the top bank’s actions against Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday. However, RBI in a statement rejected rumours about closure of nine banks–Corporation Bank, UCO Bank, IDBI, Bank of Maharashtra, Andhra Bank and Indian Overseas Bank.

“Reports appearing in some sections of social media about RBI closing down certain commercial banks are false,” RBI said in a tweet.


Finance Secretary Rajiv Kumar called the rumours about RBI closing shutters on some banks “mischievous” and that there is “no question of closing any public sector bank”.

“There are mischievous rumours on social media about RBI closing some banks. No question of closing any public sector bank, which are articles of faith.

Rather govt is strengthening PSBs with reforms and infusion of capital to better serve its customers,” Kumar said.





Related Articles