The government has dismissed a viral claim circulating on social media that the Centre has notified a scheme for the merger of Public Sector Banks. A document presented as an official Ministry of Finance notification was widely shared online, but the Press Information Bureau (PIB) Fact Check identified it as fake.
Fake document claimed major PSU bank mergers
The misleading document was designed in the format of an Extraordinary Gazette of India issued by the Department of Financial Services under the Ministry of Finance. It carried a date of September 15, 2026, along with reference numbers and the name of a purported government official.
The document claimed to announce a “Scheme of Amalgamation & Structure” under which several Public Sector Banks would be merged into larger entities.
According to the fake notification, Indian Bank, Bank of Maharashtra and Central Bank of India would be merged with State Bank of India to create an SBI Group. It also falsely claimed that Union Bank of India, Bank of India and Punjab & Sind Bank would be amalgamated into Punjab National Bank.
The fabricated document further stated that Canara Bank, Indian Overseas Bank and UCO Bank would be transferred to Bank of Baroda. It claimed that assets, liabilities, employee services and customer banking arrangements would continue after the proposed mergers.
PIB rejects viral notification
The PIB Fact Check unit rejected the claims and clarified that the document was not issued by the Finance Ministry.
"The document is #Fake and has NOT been issued by @FinMinIndia," PIB Fact Check said in a post on X, adding that a fake document regarding the amalgamation of Public Sector Banks was being circulated.
The fact-checking agency advised people to verify such information through official government channels and reliable sources before accepting or sharing it.
The clarification comes amid continued public interest in banking sector reforms and consolidation, making verification of official announcements important to prevent the spread of misleading information.
