Brazilian President Dilma Rousseff on Monday strongly denied rumors that the government plans to end an income subsidy program called Bolsa Familia.

"I want to make it clear that my government's commitment to Bolsa Familia is strong, deep and definitive," Rousseff said at a completion ceremony of an oil tanker platform in northeastern Brazil.

"We will always guarantee the money, as long as necessary, as long as there are Brazilians living below the poverty line," Rousseff said.

Because of the rumors, thousands of people crowded local government banks to withdraw what they believed to be their last subsidy payment.

The president tried to allay the fears that the government will pull the plug on the program, saying her government considers the welfare plan to be "sacred."

Bolsa Familia is a social welfare program of the Brazilian government, which has been described as the largest program of its kind in the world and targets households that earn less than the minimum wage.

Calling the rumors "criminal" and "inhumane," Rousseff said police would investigate how the rumors got started.