RBI has dismissed this news as fake, and have said, “Reports appearing in some sections of social media about RBI closing down certain commercial banks are false,”
The message which is circulating on the social media states
the name of these 9 banks: Corporation Bank, UCO Bank, IDBI, Bank of Maharashtra, Andhra Bank, Indian Overseas Bank, Central Bank of India, Dena Bank and United Bank of India.
the name of these 9 banks: Corporation Bank, UCO Bank, IDBI, Bank of Maharashtra, Andhra Bank, Indian Overseas Bank, Central Bank of India, Dena Bank and United Bank of India.
Here is the exact message, which is fake: “Nine banks will be closed permanently by Reserve Bank of India. If anybody having transactions in it please kindly withdraw it. The names of the banks are Corporation Bank, UCO Bank, IDBI, Bank of Maharashtra, Andhra Bank, Indian Overseas Bank, Central Bank of India, Dena Bank and United Bank of India. Order by Supreme Court (Sic),”
The reason why this fake news became viral was the RBI sanctions on Punjab & Maharashtra Co-operative Bank (PMC), which was imposed yesterday.
As per the sanctions, the bank cannot give new loans, and cash withdrawal has been limited to Rs 1000 per customer. This was done since there were many reports of irregularities against Punjab & Maharashtra Co-operative Bank, and RBI had to take some action.
However, these sanctions are only against PMC Bank, and no other bank is getting shut down.
