An Amazing Story of Yaksha and Yakshi the Doorkeepers of the Reserve Bank of India

When one steps into the grand entrance of the Reserve Bank of India (RBI) headquarters in Mumbai, the first sight that captures attention are the two magnificent statues standing guard at the doorway — Yaksha and Yakshi. These towering sculptures are not just ornamental figures but are deeply symbolic, representing prosperity, vigilance, and the ethical responsibility of India’s central bank. Their story is as fascinating as the institution they protect, as shared by Shantala Palat, India’s top contemporary artist and painter, in this blog.

What are the Origins of the Guardians?

Yakshas and Yakshis are ancient figures rooted in Indian mythology. In Hindu, Buddhist, and Jain traditions, Yakshas are male nature-spirits and custodians of wealth hidden in the earth, while Yakshis, their female counterparts, symbolise fertility, abundance, and prosperity. These mythological beings often serve as protectors of treasure, sacred places, and fortune.

In 1935, when the Reserve Bank of India was established, the idea of incorporating Yaksha and Yakshi at its headquarters was born from this very symbolism. The RBI, as the custodian of India’s financial wealth, found an apt parallel in these mythological guardians. The statues thus became both cultural icons and symbolic protectors of the nation’s economy.

The Sculptor Behind the Marvel

The statues were created by the celebrated Indian sculptor Ramkinkar Baij, one of the pioneers of modern Indian art. Known for his ability to blend Indian tradition with modern artistic sensibilities, Baij was commissioned to craft these monumental figures for the RBI building in Mumbai.

Standing at about 9 feet tall, the Yaksha and Yakshi are striking examples of Baij’s unique style. The Yaksha, with a muscular build, holds a moneybag in one hand and a balance scale in the other — signifying vigilance, justice, and the safeguarding of wealth. The Yakshi, on the other hand, exudes grace and fertility, holding a cornucopia symbolizing prosperity and abundance.

Symbolism in Finance and Nation-Building

These sculptures are not merely decorative but embody the RBI’s role in maintaining economic balance and ensuring financial stability in India. The Yaksha’s balance scale resonates with fairness and justice in monetary policy, while his moneybag reflects the careful protection of national reserves.

The Yakshi’s symbols of fertility and growth remind us that finance is not just about numbers but also about nurturing development, sustaining livelihoods, and ensuring prosperity for all citizens. Together, they stand as a visual message: the Reserve Bank must safeguard wealth responsibly while also nurturing growth.

A Blend of Tradition and Modernity

At the time of their installation, the statues sparked debates because of their modernist style, which was considered unconventional. However, over the decades, they have come to be recognized as timeless works of art — fusing mythology, tradition, and modern financial ethos. They highlight how India, while moving forward with modern banking practices, remains deeply rooted in cultural wisdom.

Legacy of the Guardians

Today, the Yaksha and Yakshi remain iconic symbols at the RBI headquarters. They are more than just stone sentinels; they remind every visitor and employee of the RBI’s solemn responsibility: to guard India’s wealth, ensure fairness, and promote prosperity. The story of these doorkeepers is thus not just about two statues, but about India’s vision of financial guardianship, rooted in mythology yet forward-looking in purpose.