‘Reverse’ Bank of India: Is That The RBI’s New Identity?

The changing notifications have made even the most ardent demonetisation supporters wary of the government’s plans.

The RBI headquarters in Mumbai. (Photo: Reuters)

Ever since demonetisation, the RBI hasn’t inspired much faith in the people of India.

Randeep Surjewala of Congress bestowed a new name upon the bank: ‘Reverse Bank of India’, alluding to the number of times the bank has issued notifications and then gone back on them or changed them entirely.

With the entire nation standing in bank queues, every new notification only adds to the confusion and raises questions about the government’s level of preparation before announcing the move.

Reliance Bank of India

Some people speculated on the RBI’s various “schemes,” and said they were similar to Reliance’s policies.

These notifications have led to even the most ardent supporters of demonetisation scrambling to save face.

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