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Tags Current Affairs

Reserve Bank of Kailasa

Date: 26 August 2020 Tags: India & World

Issue

Over a year after fleeing India to escape arrest in a rape trial, fugitive self-styled godman Nithyananda has unveiled his new central bank and freshly-minted currency of Kailasa.

 

Background

Nithyananda launched the ‘Reserve Bank of Kailasa’ and presented its official currency, called ‘Kailashian dollars’.

 

Details

  • The controversial ‘godman’ earlier announced that he had already drafted a 300-page economic policy, which laid down his alleged nation’s economic strategy. He also claimed that his country had signed a Memorandum of Understanding (MoU) with another nation to host his bank.

  • There is much speculation about whether Kailasa is in fact, a real nation with physical territory. Its official website claims that it is a “nation without borders created by dispossessed Hindus from around the world who lost the right to practice Hinduism authentically in their own countries”.

  • Several news reports have suggested that the ‘nation’ is located in a small private island near Trinidad and Tobago, that Nithyananda allegedly purchased from Ecuador.

  • To avail citizenship of Kailasa, one only has to be a “practising Hindu” or a “Hindu who would like to deepen their practice”.

  • It even has its own government, complete with departments of health, education, commerce, information broadcasting, and even ‘enlightened civilisation’. Nithyananda is referred to as the ‘Supreme Pontiff’ of Kailasa.

  • The various currency denominations include — one Kailashian dollar, one-fourth Kailashian dollar, half Kailashian dollar, three-fourth Kailashian dollar, till ten Kailashian dollars.

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