Wednesday, September 25, 2019

RBI will not shut down nine Indian banks (Fake News)

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There is a lot of rumours being shared on social media and the latest is regarding this WhatsApp message which states that nine Indian banks would be permanently shut down by the Reserved Bank of India. The banks mentioned in the message are:

  1. Corporation Bank, 
  2. UCO Bank, 
  3. IDBI, 
  4. Bank of Maharashtra, 
  5. Andhra Bank, 
  6. Indian Overseas Bank, 
  7. Central Bank of India, 
  8. United Bank of India and 
  9. Dena Bank.

The entire texts is:

“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 bank’s 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. 9 banks are going to be close if u guys have any account in this banks so please immediately safe ur cash and forward this msg to all. Order by supreme Court (Sic).”

There are no news reports about the claims made in the WhatsApp message which have been shared on Facebook and Twitter as well. Something big like this, if it was true would have been reported by the news media or announced by the government. Referring to the social media rumour, RBI himself clarified via a tweet, stating, “Reports appearing in some sections of social media about RBI closing down certain commercial banks are false.”

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