Tag Archives: Dr Ambedkar’s Role in the Formation of Reserve Bank of India

Today, I got stumbled upon news that RBI is considering national iconsfor Indian currency. The name of Dr. B R Ambedkar has been recommended for Indian currency. It reminded me of the time of my childhood, when first time in my life I had seen the Rs. 1 coin with Dr. Ambedkar’s photo on it. I was filled with the joy and kept that coin in the closet, never to lose it. I know this is not only with me but millions other Dalits also want to see Dr. Ambedkar on Indian currency and experience same joy. Few years back, I even came in contact with family who had actually provided RBI the picture of Dr Ambedkar for Rs. 1 coin. It was wonderful feeling knowing the journey and I’m sure almost same feeling evokes in Dalits when they see picture of Dr. Ambedkar on coins. I’ll say if any person deserves to be on Indian currency then that person should be Dr. Ambedkar. Nobody else deserves that place on Indian currency. We must make sure RBI don’t forget Dr. Ambedkar’s name in later stage. So, I request everyone in capacity to make our voice reach higher authorities that we love Dr. Ambedkar more than any other icon in India so we want Dr Ambedkar’s picture on Indian currency.

Dr Ambedkar’s Role in the Formation of Reserve Bank of India

Did you know Reserve Bank of India (RBI) came into picture according to the guidelines laid down by Dr Ambedkar? RBI was conceptualized as per the guidelines, working style and outlook presented by Dr Ambedkar in front of the Hilton Young Commission. When this commission came to India under the name of “Royal Commission on Indian Currency & Finance”, each and every member of this commission were holding Dr Ambedkar’s book named “The Problem of the Rupee – Its origin and its solution.” 

(The legislative assembly passed this under the name of RBI act 1934, its need, working style and its outlook was presented by Dr Ambedkar in-front of Hilton Young Commission. Read, “Evidence before the Royal Commission on Indian Currency and Finance” and “The Problem of the Rupee – Its origin and its solution.”)

Now, walking through the streets of India, on most of the “State Bank of India’s” (SBI’s) street hoardings it shows Rabindranath Tagore as “The banker to this nation”, as if Rabindranath Tagore is the brand ambassador of SBI!

What hurts many of us is the picture of Mr. Gandhi on the Indian currency. We need to ask everyone what’s the contribution of these two leaders (Rabindranath Tagore and Mr. Gandhi) towards Indian currency, finance and economics, and who deserves to be there on the signposts or on Indian currency?

If a man with God’s name on his tongue and a sword under his armpit deserved the appellation of a Mahatma, then Mohandas Karamchand Gandhi was a Mahatma.    – Babasaheb Ambedkar

Writing about who deserves the place on Indian currency reminds me of a Hollywood movie “Do the Right Thing” directed a way back in 1989 by Spike Lee. Movie revolves around the demand of Afro-Americans to place some pictures of black heroes on the “Wall of Fame” in a pizza shop (where all pictures are of Italian heroes as pizza shop owner is from Italy and very proud of that) as the pizzeria is situated in a black neighbourhood and sells pizza to black people.

At the end of the struggle Afro-Americans succeeded to have a picture of Malcolm X and Martin Luther King, shaking hands on the “Wall of Fame.”

 (excerpts from article “Why weren’t we told?”)

P.S. Please spread the message, Like the post and share it with your friends. We want picture of Dr Ambedkar on Indian currency!

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