Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media chanels

Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media channels.

From yesterday, a fake circular/notification bearing serial number RBI/2016-17/166 purporting to be from RBI was in active circulation in social media channels (whatsapp, facebook accounts etc. ).

According to the said fake circular, RBI had issued instruction to banks that deposit of old bank -otes into current/overdraft/cash credit accounts –t to be accepted unless a cash balance certificate as on 08-11-2016 duly attested by Income-tax authorities is produced.

In view of the above, RBI has issued a Press Release clarifying the matter as under:

Reserve Bank of India

Date : Dec 01, 2016

Withdrawal of Legal Tender from SBNs: RBI cautions against Information received on Unsecured/Unofficial Channels

In the wake of withdrawal of legal tender character from the Specified Bank Notes (SBNs), the Reserve Bank of India has, from time to time, been issuing instructions to the banks which are sent directly to banks through an official mail. These are also placed on the Reserve Bank’s official website (https://www.rbi.org.in).

It has been reported that certain guidelines/instructions purported to be issued by the Reserve Bank are being circulated in the social media by some unscrupulous elements creating confusion in the minds of the public/bank personnel.

Banks and members of the public are, therefore, cautioned to be guided by only those instructions which are either uploaded on the Reserve Bank’s official website (https://www.rbi.org.in) or received through the Reserve Bank’s official mail.

The banks and members of the public are advised that they should not rely on other unsecured/ unofficial channels like social media in which the authenticity of the documents circulated is questionable and not verifiable.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/1382