In the past also, few investors with vested interest earned huge financial gain by spreading such rumors. In the case, rumor that Garima Bikas Bank is merging with an 'A' listed commercial bank with 80 percent swap ratio is surfacing around.
The rumor has prompted many ordinary investors to buy the stock while few are selling their stock in hiked price.
Meanwhile, the bank itself has refuted the rumor. The bank said that it has no intention of merging with any financial institution right now.