The Centre on Wednesday debunked a gazette that stated that it has notified a scheme which would involve the merging of public sector banks into amalgamated entities via a post shared on social media platform 'X'.
"The document is fake and has NOT been issued by @FinMinIndia (official Finance Ministry of India handle)," the post said.
"Always verify such information through official and credible sources before believing or sharing it," it added.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
A document circulating on social media, purportedly issued by the Ministry of Finance, claims that the Central Government has notified a scheme for the amalgamation of Public Sector Banks.#PIBFactCheck:
— PIB Fact Check (@PIBFactCheck) September 16, 2026
❌ The document is #Fake and has NOT been issued by @FinMinIndia.
🔰… pic.twitter.com/nCbOS9fRFX
The post also encouraged those spotting suspicious claims allegedly issued by the Indian government to report them to the @PIBFactCheck 'X' handle. Users can also do the same via the mobile number: +91 8799711259 and the e-mail ID: factcheck@pib.gov.in.
As per the erroneous gazette, Indian Bank, Bank of Maharashtra, Central Bank of India would be subject to an acquisition by State Bank of India and was to be renamed as SBI Group.
ALSO READ: Paytm, Yes Bank, MobiKwik Rally Over 7% On UPI Fee Rollout — Do You Own?
Similarly, Union Bank of India, Bank of India, and Punjab & Sind Bank were to be acquired by Punjab National Bank and be given the same name.
It further claimed that Canara Bank, Indian Overseas Bank, and UCO Bank were set to be amalgamated and transferred to Bank of Baroda and would be given the same name.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
