Guess who’s taking credit for RBI rollback on Rs 5,000 deposit restriction?

TV channels claiming “impact” on news events that they have had no impact on, is routine. But even by their own standards, Times Now and India Today taking credit for the Reserve Bank of India going back on its 59^th circular since November 8, 2016 is just, umm, conceit personified.

Yesterday, nearly every news organisation in the business reported on RBI’s notification stating that deposits above Rs 5,000 in old currency notes would be subject to scrutiny by bank managers: People now had to fill a form stating why they had waited so long to deposit denotified currency notes. This obviously got everyone outraging, considering Finance Minister Arun Jaitley had earlier urged aam janta to basically chill and not cue up at banks since they had time till December 30. Today, RBI pretty much went back on its order stating that accounts that are KYC-complaint would not be subjected to scrutiny. We’re guessing the good folks at North Block and Sansad Marg realised they were being silly, but Times Now and India Today would rather have us thank them for RBI’s change of mind.

Both channels believe that RBI issued the fresh notification because they reported on it. Of course, both channels were among only 20 other channels that did so.

The mystifying detail of India Today’s claim is that they’ve also said RBI did a U-turn because of “public pressure”. Is all of the general public on India Today’s payroll? The nation needs to know. 

Times Now went to the extent of calling it a “mega Times Now” impact. We shudder to think what they’d call a real Times Now impact.

Let’s be clear: Times Now did conduct an exposé yesterday that showed how a depositor was harassed. However, it’s not as though reports of people being inconvenienced are unique to Times Now. But, hey, when you queue outside an ATM or bank, give thanks for Times Now because thanks to them, “YOU WON’T BE GRILLED” (they fought for you).