Mumbai, Sept 25 (IBNS): The Reserve Bank of India (RBI) on Wednesday refuted reports that nine banks would be closed down and said that no commercial banks are going to be shut.
It said that rumours were being spread on social media that nine banks would be shut down.
Finance Secretary Rajiv Kumar described such social media messages as "mischievous".
He said the government was rather in process of strengthening public sector banks by infusing capital in them.
The message that nine banks being shut went viral a day after the RBI issued restrictions on withdrawals from Punjab & Maharashtra Cooperative Bank (PMC).
"Reports appearing in some sections of social media about the RBI closing down certain commercial banks are false," the RBI was quoted as saying in media.
Most of the banks named in the messages are those that have been already merged with other banks or are in the process of getting merged.
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