Accordingly widespread rumors about nine banks shutting down triggered panic amongst users on Tuesday prompting the Reserve Bank of india to put out a statement to allay fears. Meanwhile the regulator refuted all rumors and stated that the Indian banking system is safe and stable.
Furthermore a message, which went viral on social media and instant messaging apps claimed, “Nine banks will be closed permanently by Reserve bank of India. Perhaps if anybody having transactions in it, please kindly withdraw it and the name of the banks 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 going to be close if u guys have any account in this banks so please immediately safe your cash and forward this message to all."
Moreover making matters worse, net-banking services of several banks, including HDFC, YES Bank and Kotak Mahindra suffered an outage on Tuesday and this led to many believing that the rumors could be true. Apparently the message went viral shortly after the revelation of fraud in Punjab & Maharashtra Cooperative (PMC) Bank involving the Housing Development and Infrastructure Limited (HDIL).
