'Reverse bank of India': Congress mocks RBI

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The Congress on Wednesday lashed out at the Reserve Bank of India for making changes in its guidelines on deposit of old Rs 500 and Rs 1,000 notes. Taking a dig at the RBI, Congress spokeperson Randeep Surjewala described the central bank as 'Reverse bank of India'.

"The Reserve Bank of India has become 'Reverse Bank of India'; In the last 43 days of demonetisation, they changed norms 126 times," ANI quoted Surjewala.

Randeep Surjewala

In its circular of December 19, the RBI had said that deposit of old Rs 1,000 and Rs 500 notes would be allowed only once until December 30. That same evening, Finance Minister Arun Jaitley said that the one-time deposit till that date would not invite scrutiny by bank officials.

On Tuesday, Jaitley emphasised that only one-time deposit would be allowed.

On Wednesday, the RBI notified that it was withdrawing the first two paras of its Monday notification for KYC-compliant accounts.

By doing this, the RBI has now contradicted what the finance minister said on Monday and reiterated on Tuesday -- that deposits can be made only once.

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