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An alleged Press Release dated October 25, 2023, is circulating online, claiming that the Reserve Bank of India has revoked the license of Abhyudaya Co-operative Bank Ltd.
However, in an official response, the RBI has clarified that the Press Release is fraudulent, and no such announcement has been made by the central bank. PIB Fact Check has posted on X, "A Press Release, dated 25 October 2023, being shared online, alleges that @RBI has cancelled the license of Abhyudaya Co-operative Bank Ltd. This Press Release is fake. RBI has not issued any such Press release. For more info visit: http://rbi.org.in. This is floating around." The Press Information Bureau (PIB) Fact Check, a credible source for verifying news and information, has labelled the Press Release as fake. In its official statement. To verify the authenticity of the news, the RBI encourages individuals to visit their official website at http://rbi.org.in. This incident highlights the importance of confirming the credibility of information before accepting or sharing it, especially when it pertains to significant financial or regulatory matters. False information can lead to unwarranted panic and financial instability. In this case, the RBI has promptly clarified the situation, assuring the public that the license of Abhyudaya Co-operative Bank remains unaffected. (ANI)
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