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Govt's interference in RBI affairs unfortunate: Employees

Shobhit Kalra

Shobhit KalraBy Shobhit Kalra

Published on 14 Jan 2017 4:38 AM GMT

Govts interference in RBI affairs unfortunate: Employees
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Govt's interference in RBI affairs unfortunate: Employees to Urjit Patel
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New Delhi: In a letter addressed to the RBI Governor, Urjit Patel, the employee unions of the Reserve Bank of India on Friday expressed their deep concern over the government's interference in the banking affairs of RBI.

The letter has the mention of recent media reports claiming that the Finance Ministry had deputed a Joint Secretary-level officer to the RBI to keep a watch over its currency chest operations.

Calling the alleged government's action as 'unfortunate', the employee unions in the letter said, "We take strong exception to this measure of the government as impinging on the RBI's autonomy and its statutory as well as operational jurisdiction."

"Apart from showing RBI operations and its gigantic performance in poor light, the government now blatantly encroaches on its jurisdiction, which, we state strongly, we cannot accept," the letter further read.

Stressing that RBI is not in a need of any assistance from anywhere, the employee unions of the apex bank said, "We want to state very categorically that RBI is fully capable 'to co-ordinate the central bank's currency chest operations', which RBI have been performing over decades."

Shobhit Kalra

Shobhit Kalra

Writer has 10 years of experience in digital media. Presently working as Chief Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.

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