RBI staff plans mass leave on November 19
KOLKATA: Reserve Bank’s employees have
proposed one-day mass leave on November 19 to protest what they termed
as the government’s intention to curb the apex bank’s activity and
intervening into monetary policies.
The United Forum of Reserve Bank
Officers and Employees, the umbrella organisation of four recognised
unions of officers and workmen staff in RBI, has decided a day’s ‘Mass
Leave’ on November 19 by around 17,000 workforce, AIRBEA General
Secretary Samir Ghosh told PTI.
“With the proposed mechanism of Monetary
Policy Committee (MPC), the government plans to intervene and
themselves decide the monetary policy which has been the exclusive
jurisdiction of RBI so far,” he said.
In the wake of the protest, settlement activity of the banking system of the country is likely to be disrupted on November 19.
“The cease-work programme is intended,
inter alia, to strongly oppose Government of India’s current moves to
cripple RBI in the name of the draft financial code and legislative
reforms,” the United Forum release said.
“The Finance Ministry is reportedly
giving final shape to shift Government’s debt management functions from
RBI to the proposed Public Debt Management Agency (PDMA), which will
also henceforth function as depository of government securities (G-Sec),
thus taking away from RBI some vital operations having relevance to
money market as well,” it added.
The union body will also press for their demand for improvement in pension.
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