Do not panic- We are safe- RBI

In the recent days, there were many rumours regarding the Indian banks and their
system and due to this, there were chaos in people. But against this and to support
their self, they have come up with a statement that We are safe and there is
nothing to panic about. This statement came up when Nifty bank index were tanked
by 1.30 % in Intra day trade amid a barrage of negative news from the sector. It also
includes the crisis at Punjab and Maharashtra Co-operative Bank, PMC.

For the whole situation, the Reserve Bank tweeted – “There are rumours in some
locations about certain banks including cooperative banks, resulting in anxiety
among the depositors. RBI would like to assure the general public that Indian
banking system is safe and stable and there is no need to panic on the basis of
such rumours.”

People were totally worried about their money because of the whole incident
and still people are not sure if they should believe this statement issued here
or not.

However, after this statement from RBI, people may give a chance to their
banks and bring that trust again.