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RBI Becomes World Monetary Authority With One Million Twitter Followers

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RBI’s Twitter account now reaches 1 million subscribers. A new milestone. Congratulations to all of my RBI colleagues, Governor Shaktikanta Das tweeted.

In a first among central banks, the Reserve Bank of India became the first monetary authority in the world to have more than a million followers on its official Twitter account.

Despite far less monetary firepower, the Reserve Bank of India (RBI) beat the world’s most powerful central banks, the US Federal Reserve and the European Central Bank on Twitter by a wide margin, emerging as the most popular central bank on the microblogging site with over one million subscribers.

On Sunday, the RBI handle is followed by no less than 10 00 513 people around the world.

The achievement is impressive as the 85-year-old Reserve Bank was also a latecomer in the world of Twitter, as it only created the account in January 2012.

According to the latest information available on RBI’s Twitter handle @RBI, the number of followers rose from 9.66 lakh on September 27, 2020 to over 10 lakh on Sunday.

RBI’s Twitter account now reaches 1 million subscribers. A new milestone. Congratulations to all of my RBI colleagues, Governor Shaktikanta Das tweeted on Sunday.

At the second niche is Mexico’s much lesser-known central bank (Banco de Mexico) with 7.74 lakh followers, followed by the Bank of Indonesia (7.57 lakh). The US Federal Reserve, the world’s most powerful central bank, has just 6.77 lakh followers, placing it in a distant fourth slot.

With 5.91 lakh followers, the Frankfurt-based European Central Bank, the world’s second most powerful monetary authority, comes in fifth.

In sixth place is the Central Bank of Brazil with 3.82 lakh followers and the Bank of England is far behind seventh with 3.17 lakh followers.

The Bank of Canada comes next with 1.80 lakh and the State Bank of Pakistan is the ninth largest with 1.16 lakh.

In tenth place is the Reserve Bank of Australia with 49,200 subscribers.

The central bank of France has around 37,100 subscribers, while the Deutsche Bundesbank has around 30,000 subscribers.

The third most powerful monetary authority, the Bank of Japan, has just 28,900 followers on its Twitter account.

The US Fed joined Twitter in March 2009, while the ECB has been active on the microblogging site since October 2009.

Governor Das, who took office in December 2018, has a separate Twitter account with 1.35 lakh followers.

Since March 2019, the number of followers has more than doubled, from around 3.42,000 to over 7.50,000 by March 2020. And in the first seven weeks of lockdown that began on March 25, subscribers increased by over 1.5 lakh. , according to an official.

In the current fiscal year, up to 2.5 lakh of new followers have joined the RBI handful.

Besides the main Twitter account, the RBI also has another Twitter account called RBI Says, which it uses to contact the common man and also opened a Facebook page of the same name in early April.

He also launched a customer awareness campaign to prevent gullible account holders from being duped by fraudsters.

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