RBI sets new milestone in popularity, becomes first central bank to get 1 million followers on twitter
In the time span of less than 9 years, Reserve Bank of India (RBI) has beaten the world’s most powerful central banks by a great margin and emerged as the first central bank across the globe to reach the mark of 1-million-followers on Twitter, the microblogging network system.
Shaktikanta Das, RBI’s 25th Governor, congratulated the people of RBI in his tweet and said “RBI Twitter account reaches one million followers today. A new milestone. Congratulations to all my colleagues in RBI.”
RBI account was activated on the networking site back in January 2012. Whereas other top central banks in the world like the Federal Reserve System of the US has 677.3k followers, European Central Bank has 591k followers, Bank of Canada has 180.3k followers and the Saudi Arabian Monetary Authority has 562.9k followers on Twitter.
The count of followers has multiplied at a very good pace and almost doubled from 3,42,000 in March 2019 to more than 7,50,000 by March 2020. Amid the initial seven-week lockdown that was imposed on March 25th ,the followers increased by over 1.5 lakh as per an official.
However, in the current financial year, over 2.5 lakh new people have followed the RBI’s twitter handle. Additionally, the RBI also maintains another twitter account under the name of ‘RBI Says’, on which it reaches out to the common man. The central bank also runs a customer awareness campaign to prevent credulous account-holders from being cheated by the fraudsters.
On April 1st 1935, the RBI was established, under the provisions of the Reserve Bank of India Act, 1934. Initially, it started its operations in then Calcutta and was later shifted to Mumbai in 1937. It is completely under the control of the Government of India.