Centre & RBI respond on rumours of closing down Public Sector Banks
News is going viral on social media that Government may shut down public sector banks (PSB's) at any time. A few people are even urging other account holders to withdraw their money from the accounts. Denying rumours surrounding the closure of public sector banks, the Reserve Bank of India (RBI) on Friday clarified that there was no question of shutting down any bank. Rumours started swirling when the RBI initiated a ‘prompt corrective action’ (PCA) against large state-owned lender, Bank of India. Union Government has also dismissed the rumours, in a statement. Watch the video for more info.