The absconding godman had recently said in a video that “everything was legally established” and he was waiting for the auspicious festival to announce all the details, including information about the country’s economy and policies. Nithyanada said a 300-page document had been readied with all details about the economic policies.

“Designing, currency, the economy strategy, how we are going to be doing, internal currency usage and external world currency exchange, everything legally, we signed an MoU with a nation hosting our Reserve Bank and everything is legitimately established,” the godman pointed out.

According to Nithyananda, Kailaasa, the country he recently founded had entered into an agreement with an unnamed country that will host the new reserve bank. “Everything is legally and legitimately established, reserve bank of Kailaasa, legitimately established with all the structure done based on the Vatican Bank,” he observed. Among the major duties of the bank will be managing the MahaKailaasa economy by handling all the donations that pour in from devotees from across the world.