RBI rebuts social media rumours on closure of 9 banks

Vartha Bharati | 25-09-2019 | 21:22:00 IST

Mumbai, Sep 25: Rebutting social media rumours swiftly, the Reserve Bank of India on Wednesday said no commercial banks are going to be shut.

Finance secretary Rajiv Kumar described such social media messages as "mischievous" saying the government was in process of strengthening public sector banks by infusing capital in them.

"Reports appearing in some sections of social media about the RBI closing down certain commercial banks are false," the central bank said in a statement.

Messages are circulating in various social media platforms that nine banks will be closed down permanently by the RBI and appeals being made to public to withdraw their money from them.

"No question of closing any #PSB, which are articles of faith. Rather Govt is strengthening PSBs with reforms and infusion of capital to better serve its customers," Kumar said in a tweet.

The messages are being circulated a day after the RBI placed restrictions on withdrawals in the crippled Punjab & Maharashtra Cooperative Bank (PMC), thus affecting lakhs of customers.

The message i.e going viral on the social media, about nine banks will be closed down permanently by the RBI and appeals being made to public to withdraw their money from them.

Most of the banks named in the messages are those that have been either merged with other banks or are in the process of being merged.

Last month, the government had announced that 10 public sector banks would be merged into four.

Oriental Bank of Commerce and United Bank of India will be merged with Punjab National Bank, while Syndicate Bank will become part of Canara Bank.

Andhra Bank and Corporation Bank will be merged with Union Bank of India, and Allahabad Bank with Indian Bank.

The government has already merged Dena Bank and Vijaya Bank with Bank of Baroda.

Also, the IDBI Bank was taken over the public sector insurance behemoth LIC. Recently, the government announced to infuse capital into the IDBI Bank.

Reports appearing in some sections of social media about RBI closing down certain commercial banks are false.

— ReserveBankOfIndia (@RBI) September 25, 2019

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Youth Cong leader killed in Karnataka's Dharwad

11-04-2026 ¦ 11-04-2026 IST

Photo credit: TOI

Dharwad (PTI): A Youth Congress leader was allegedly killed by unidentified assailants after barging into his residence in the city, police said on Saturday. The deceased was identified as Fairoz Pathan, they said.

The incident took place at his house in the Hashminagar area on late Friday, creating panic among local residents.

Police said that four unidentified assailants barged into his house and attacked him with lethal weapons.

After committing the crime, the accused fled from the spot. The entire act has been captured on nearby CCTV cameras, providing crucial leads for the investigation, a senior police officer said.

Upon receiving information, police from the Sub-Urban Police Station rushed to the spot and conducted an inspection. The exact reason behind the murder is yet to be ascertained, he said.

Police have registered a case and launched an investigation to identify and apprehend the accused.