RBI de­nies ru­mours of bank­ing cri­sis

The Times of India (New Delhi edition) - - Times Global - TIMES NEWS NET­WORK

Mum­bai: The RBI on Tues­day is­sued a state­ment to scotch ru­mours about more banks com­ing un­der stress in the wake of the Pun­jab and Ma­ha­rash­tra Co­op­er­a­tive Bank cri­sis.

“There are ru­mours in some lo­ca­tions about cer­tain banks, in­clud­ing co­op­er­a­tive banks, re­sult­ing in anx­i­ety among de­pos­i­tors. The RBI would like to as­sure the pub­lic that the In­dian bank­ing sys­tem is safe and sta­ble and there is no need to panic on the ba­sis of such ru­mours,” the cen­tral bank said.

Al­though the RBI did not name any banks, so­cial me­dia has been abuzz with ru­mours of pri­vate and co­op­er­a­tive banks fac­ing fi­nan­cial dif­fi­cul­ties.

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