No question of closing down banks: Centre
- IndiaGlitz, [Wednesday,September 25 2019]
The Reserve Bank of India today refuted the rumour that the closure of some public sector banks will happen soon. In an official statement, it categorically said that no such proposal is there.
Later, Finance Secretary Rajeev Kumar repeated the stand of the Centre. There are mischievous rumours on social media about RBI closing some banks. No question of closing any public sector bank, which are articles of faith. Rather the government is strengthening PSBs with reforms and infusion of capital to better serve its customers, he added.
The rumours have to be seen in the context of the recent merger of 10 PSBs by the government. Recently, Rs 70,000 cr capital infusion was announced by the government.