Zero-Reserve Bank of India?

Last year, we prided ourselves in becoming a select club-nation of having a sign for Rupee. Today, that Rupee sign is showing exceptional weakness. Not only has the Rupee coin been losing its purchasing power (by way of relentless march of inflation), figuratively it has become as small as a Char-Anna (Re.0.25) coin. Check the erstwhile one rupee coin, it is the same sized as a ten-rupee coin. Che...ck out the latest one rupee coin, it is co-axial as a 25 paise coin. And today, a rupee touched 54.26 to a US Dollar. One of India's best companies - HDFC is downgraded - and its weightage in MSCI universe pruned from 6.2% to 3.2%. Forex Reserves of India used to be closer to $450 Billion - a figure which made Reserve Bank of India called euphemestically as Foreign Reserve Bank of India. Now, excluding this week's intervention, the reserves dwindled to $293 Billion. Maybe Reserve Bank of India, aided by governance deficit in the country, will be called Zero-Reserve Bank of India. Or just Bank of India.