Kolkata:
RBI'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.
RBI Governor Raghuram Rajan
The
United Forum of Reserve Bank of India (RBI) 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.
Source: TST
