Twitter led a remarkable breakthrough in information sharing on online social media. The eminent technology can propagate a piece of rumor to a large community of people in a short period. The timely detection of rumor tweets in social media curtails panic among the public during critical situations. Traditional machine learning techniques are not capable of categorizing rumor information effectively. To address this problem, the author has proposed a novel neural network approach called veracity detection neural network for identifying the rumor-related Twitter posts’ content in real-time events. This algorithm utilized the convolutional sentence encoder–bi-directional long short-term memory (CSE-BiLSTM) model with pre-trained vectorization methods such as Word2vec, fastText and universal sentence encoder (USE). The hybrid CSE-BiLSTM with USE vectorization technique yields the best results for the performance metrics of accuracy, F1-score, precision and recall. The proposed algorithm achieves 90.56%, 86.18% and 93.89% accuracy values to classify the tweet into rumor or non-rumor for the datasets such as PHEME, newly emerged rumors on Twitter and #gaja, respectively. Finally, a comparative study shows that the proposed neural network model outperformed all other existing rumor text classification systems.