Rumours about the closure of certain commercial banks are false: RBI
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RBI is suppressing the rumours about bank closures a day after it imposed restrictions on a local lender. RBI tweeted that reports surfacing on social media about RBI closing down certain commercial banks are false. It capped withdrawals from PMC at Rs 1000 & barred from fresh lending for 6 months. It did not give any reason for the move but PMC's MD Joy Thomas said regulator is investigating the bank's books for bad loans.