Was the RBI closed?

RBI unlocked.....

One day I heard RBI was unlocked. So, was the RBI closed till then?

What does that mean??? Nothing,but a documentary on RBI.

How it would feel when you got to see the large vaults of bullion reserves kept with the RBI? or how it would feel when those who played a key role in solving the BOP crisis in 1991 explain it directly to you? Such rare moments are embedded in the series RBI Unlocked.

RBI Unlocked, Beyond the rupee is a 5-episode documentary miniseries available on JioHotstar. For those who are interested in the operations of a highly confidential and authoritative body as RBI is, this visual presentation will surely enthrall their curiosity and stoke their imagination. For a person like me, who prefers non-fiction, this documentary provides quality content in a credible and engaging format. It leaves a lasting impression on the various hurdles overcame by RBI, the latest being the COVID-19 pandemic and how such crises were seen as opportunities for huge reforms. 

I'll now tell you some hallmarks of the documentary which I consider worthwhile to mention here.

The documentary features the luminaries who were in the top positions with RBI. The present governor and former governors like C. Rangarajan and D.Subbarao and many other officials explain  their experiences during various occasions and milestones of RBI. It strives to recreate the various instances mentioned from diverse viewpoint. A great example is the memory account  shared by Mani Aiyyer as well as Dr.C. Rangarajan, who represent the diverse ends during the BOP crisis, those who makes the decision and those who are meant to live the decision.

A vivid picturisation of various functions of RBI has been done here. To start with, the first episode 'As Good as Gold' indicates the role played by RBI as the custodian of gold reserves and how the reserves are managed amidst challanges such as 1991 balance of payment crisis. Second one gives a detailed description of how the rupee, which is the closest touchpoint between RBI and the common man, is printed and how the nation acheived self sufficiency in manufacturing the paper and even the ink for printing the notes. Next episode entails the process of banking regulation and supervision done by RBI  over commercial banks. How the RBI manages the bank run and bank failure through tailor made policies find a special mention in the series. Another main and principal function of RBI- to fix the interest rate in the economy- is presented in an easy-to-understand manner. Also, the guiding motives of inclusion, innovation  upheld by the supreme bank of our nation also find a space in the documentary.

The documentary also illustrates a family, through which how the effect of the high level leadership decision are transmitted to the society is shown. Many people may not be aware of the influence wielded by the central bank of the nation in their lives. This documentary can serve as an eye-opener to many of them.

Along with that, the documentary need not be considered to be made exclusively for the 'economic nerds'. What all technical terms come in the way of this documentary is met with a suitable definition, that is understandable for the layman. 

So, this series, which was made as part of the 90th anniversary of the nation's central bank, is really a booster for those who want to know what are the whispers in the corridor of the supreme pecuniary entity of our nation.