Congress calls RBI Reverse Bank of India, says federal bank changed rules 126 times since 8 November


Congress on Wednesday launched a blistering attack on the central government and the Reserve Bank of India calling the latter Reverse Bank of India for continuous changing rules and repeated U-turns on demonetisation.

The party said that the RBI had changed  “the norms 126 times” since Prime Minister Narendra Modi declared the old Rs 500 and Rs 1000 notes invalid on 8 November.

Reverse Bank of India

“Reserve Bank of India has become ‘Reverse Bank of India’; In last 43 days of demonetisation, they changed norms 126 times,”said Congress spokesman Randeep Surjewala.

His statement came on the day the RBI made yet another spectacular U-turn on deposits in excess of Rs 5,000 by withdrawing its provisions on customers having to make declarations.

The Congress vice president had earlier said that “RBI is changing rules like the PM changes his clothes”.


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