The Reserve Bank of India scrapped its latest rule that restricted people from multiple deposits of over Rs 5,000 in old banknotes more than once till 30 December. The RBI has now said that only those haven’t furnished the Know-Your-Customer (KYC) documentation will be interrogated on deposits above Rs 5,000.
People were taken aback with this new entrant in the RBI’s list of rules pertaining to demonetisation that subjected them to questioning. Like most things, it became the topic for the day on Twitter. People fervently criticised the clause that required citizens to state a “satisfactory explanation” for why the old notes were not deposited earlier and took to social media to express their fury.
Last 43 days have seriously undermined whatever credibility the RBI had built up over decades. Now laughing stock -- Reverse Bank of India.
— Rahul Kanwal (@rahulkanwal) December 21, 2016
— zakir khan (@Zakirism) December 21, 2016
Former Aam Aadmi Party leader, Yogendra Yadav tweeted an image of a note that served as his explanation for making the deposit. The note stressed on the assurance given to the citizens by the prime minister, the finance minister and the RBI that they could make their deposits until 30 December.
This is the "explanation" I have given my bank for making a small deposit today. Pl retweet if you agree pic.twitter.com/v1JyhpADZ3
— Yogendra Yadav (@_YogendraYadav) December 20, 2016
Citizens cited the official statements made by the government that had promised that the citizens would be given enough time to deposit their money, as their “explanations” to the banks and tweeted their responses.
The Govt. is asking me why I didn't deposit cash all this while. pic.twitter.com/EiscuRXH0G
— Sunit Singh (@surdattack) December 20, 2016
As promised. Wish HDFC gave us more space to write more pic.twitter.com/yXD5Dd1PNV
— Raveesh Bhalla (@raveeshbhalla) December 20, 2016
RBI’s latest announcement of the rule reversal has left people perplexed. People took to twitter to criticise yet another alteration in the rulebook of demonetisation. Amidst the frustration, there was humour too.
Remember when you played pool with a cute girl in college & she kept changing the rules? You just went with it. Yup...that girl is the RBI.
— Vir Das (@thevirdas) December 19, 2016
RBI should just snapchat all their policies
— Rounak Jain (@r0unak) December 21, 2016
At this rate, RBI will soon be the Rollback Bank of India! 😄 — Rajdeep Sardesai (@sardesairajdeep) December 21, 2016
RBI press con
"We would like to introduce a new rule - starting 31.."
*GOLMAAL HAI BHAI SAB GOLMAAL HAI*
"...kisi ko gaana sunai diya?"
— Tanmay Bhat (@thetanmay) December 21, 2016
Banks had put out notices earlier assuring customers that they could make their deposits till 30 December. The flip-flops in the rules since the announcement on 8 November has created chaos in the banking system of the country.
Updated Date: Dec 22, 2016 13:07:13 IST