The employees of Reserve Bank of India (RBI) will go on mass casual leave on November 19 to protest against the new move of the government to cripple RBI by taking away some of its vital operations by calling it as ‘Draft financial code and legislative reforms’.
The United Forum of Reserve Bank Officers and Employees release said, “The cease-work programme is intended, inter alia, to strongly oppose the government of India’s current moves to cripple RBI in the name of the draft financial code and legislative reforms.
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.”
Samir Ghosh, the Convener of the United Forum of RBI Officers and Employees, speaking to media said that the mass leave call has been given to put pressure on government against the new initiative to restrict the powers of RBI.
