RBI cautions against fake notifications on social media

In view of the numerous notifications being issued by the RBI post the November 8 demonetisation measure, India’s central bank on Thursday cautioned people on fake instructions being published in its name by “unscrupulous elementson” over social media.

“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,” the Reserve Bank of India said in a notice posted on its website.

“In the wake of withdrawal of legal tender character from the Specified Bank Notes (SBNs), the RBI 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 said.

“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 or received through the Reserve Bank’s official mail,” it added.

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

Last evening, a fake RBI circular had been circulated by unknown persons on social media saying money could no longer be deposited in current accounts.