Economists in the country are blaming a host of factors for the dwindling value of the rupee and spending sleepless nights trying to revive the modest rupaiya from the deathly hallows of an economic slump. But a man from Guwahati, with no particular expertise on the subject, claims to have all the answers.
Fifty-year-old Rajkumar Jhanjhari, a scholar of Hindu doctrine, has stumped the financial whiz kids with a theory stating that the cause of the downfall has little to do with the wrong economic decisions. It is largely, due to its inauspicious symbol. He claims that the symbol created by IIT student D. Udaya Kumar in 2010, has slit the throat of the rupee, literally and metaphorically.
Leo Velloz, a logo designer at The Mind Spa, Mumbai, believes that Jhanjhari has a point.
“The rupee symbol is a mix of Devnagri and Roman scripts, so firstly, there is no set identity for it. If you were to consider the Roman script, then it has no support and in case of the Devnagri script, it is slashed right across,” he says.
The older symbol, “Rs.” he believes was much more assertive and strong with a dot at the end. Citing an example of the Chinese Yuan he says, “The ‘Y’ of the Yuan has a strong hinge-like support on the sides. It symbolises stability. China owns more than half of the world’s federal reserves today, and it is not merely smart economic decisions that have made that possible.”
Graphologist Milind Rajore shares the view and believes it is time the government starts taking the suggestions of symbol experts to fight the slump.
“The current rupee sign lacks foundation; it dangles in thin air. The cross lines however, symbolise strength to withstand a storm. But overall, it is redundant because we’re increasing our tolerance for a fight that wouldn’t have existed in the first place if we were right with the symbol.”
He suggests ‘I’ as a perfect replacement. “‘I’ represents India and one can never go wrong with straight lines. Besides, it covers it with a strong baseline and a sturdy header,” he adds.
While the theory has found a lot of supporters, there are a few who would like to look at it as a passing phase. Astrologer Bejan Daruwala is one of them.
Talking about the symbol he says, “It’s a beautiful symbol and we’re just in the middle of an economic slump. From June 12 to August 13 will be the first phase of the slump and then from August 14 to December 2 will be the second phase. February onwards, the economy will do reasonably well. India is poised to become one of the superpowers and will recover from this temporary downfall.”
Tarot expert Sunita Menon blames nothing but the wrong decisions taken by the government.
“It is silly to blame the symbol when there are a bunch of wrong policymakers at work. Times are bad and will probably get worse. But that is the case for the entire world. Why single out India and its currency then?” she questions.