The merger of the three PSBs is scheduled to come into force from April 1 next year.
"There are some vested interests. Particularly, some private banks have been spreading rumours by posting their agents in front of some branches and telling the depositors to shift their deposits as these (public sector) banks will be closed down", Pradhan alleged.
He also said some groups have been trying to launch a "misinformation campaign to scare the depositors" so that they shift their deposits elsewhere.
"There is no cause for worry and money with our banks is fully safe and secured," he said.
Regarding the progress of the amalgamation process, he said it is "going on smoothly" and 34-odd committees, formed by the three banks, would submit their reports by the end of December.
The amalgamated lender will have a new name and logo and Punjab National Bank will be the anchor bank, he said.
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