A document claiming that the government has approved a major restructuring of public sector banks is fake, the Centre has clarified.
The document, being circulated as a government gazette, claimed that nine public sector banks would be acquired by State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda.
The claim created confusion among bank customers and social media users, but the government has now denied issuing any such notification.
The Centre, in a post on social media platform X, said the document is fake and “has NOT been issued by @FinMinIndia”, the official handle of the Finance Ministry.
The government also urged people to verify such claims through official and credible sources before sharing them.
What did the fake gazette claim?
The document claimed that nine PSBs would be divided among three major public sector banks.
According to the fake document, the following banks were allegedly going to be acquired by SBI: Indian Bank, Bank of Maharashtra and Central Bank of India.
The document claimed these banks would then be renamed under SBI Group.
A document circulating on social media, purportedly issued by the Ministry of Finance, claims that the Central Government has notified a scheme for the amalgamation of Public Sector Banks.#PIBFactCheck:
❌ The document is #Fake and has NOT been issued by @FinMinIndia.
— PIB Fact Check (@PIBFactCheck) September 16, 2026
It further claimed that Union Bank of India, Bank of India and Punjab & Sind Bank would be acquired by Punjab National Bank and would continue under the PNB name.
The third group mentioned Canara Bank, Indian Overseas Bank and UCO Bank. The fake notification claimed that these three banks would be amalgamated and transferred to Bank of Baroda.
Centre calls document fake
The government has clearly rejected the document.
In its social media post, the Centre said the gazette was not issued by the Finance Ministry.
It also asked citizens to be careful before forwarding or publishing such claims, particularly when they appear to carry government logos, official-looking formats or references to government notifications.
The clarification means that there is no government notification, based on the information provided in the fact-check, announcing the merger of these nine PSBs with SBI, PNB or Bank of Baroda.
Why the claim looked real
The document used the format of an official gazette, which may have made the claim appear genuine to readers.
However, the use of government-style formatting does not establish that a document has actually been issued by the government.
Official notifications concerning major banking policy decisions are normally made available through authorised government channels. In this case, the Finance Ministry has specifically denied issuing the document.
Where can suspicious government claims be reported?
The Centre also encouraged citizens to report suspicious claims allegedly issued in the name of the government.
People can flag such information to PIB Fact Check through its official social media handle. The government has also provided a mobile number and email address for reporting claims that appear suspicious. (Mobile Number: +91 8799711259 and Email: [email protected])
The episode is another reminder that documents carrying official-looking names, logos or formats can also be fabricated and circulated online.
Fact: The Centre has said the purported gazette is fake and was not issued by the Finance Ministry.
