Reports about Reserve Bank of India closing down certain commercial banks are false - FACTLY
Sai Krishna Muthyanolla
September 26, 2019
A piece of news that the Reserve Bank of India (RBI) is closing down certain commercial banks is going viral on social media. Let’s try to analyze the authenticity of the news.
The Reserve Bank of India is closing down nine commercial banks.
Fact:  The Reserve Bank of India has issued a clarification that the reports about it closing down nine commercial banks are false. So, the claim is FALSE.
The news that RBI is closing down certain commercial banks is doing rounds for the past few days. On visiting the Twitter account of RBI, a tweet made by it rubbishing such news was found. In the tweet, RBI clarified- ‘Reports appearing in some sections of social media about RBI closing down certain commercial banks are false’.
Reports appearing in some sections of social media about RBI closing down certain commercial banks are false.
The same was also clarified by Finance SecretaryRajeev Kumar through a tweet. He tweeted- ‘There
are mischievous rumours on Social Media (picture below) about @RBI closing some banks. 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  @FinMinIndia @PIB_India
There are mischievous rumours on Social Media (picture below) about @RBI closing some banks. 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 @FinMinIndia @PIB_India pic.twitter.com/43XoZGoOa0
Earlier, the government as a part of its banking reforms plan has merged 10 public sector banks into four and the related news can be read here.
To conclude, the reports about the Reserve Bank of India closing down certain commercial banks are false.
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