Central Bank's image has been dented post demonetisation: RBI staff

January 14, 2017

New Delhi, Jan 14: In a strongly worded letter addressed to Reserve Bank of India (RBI) Governor Urjit Patel, the United Forum of Reserve Bank Officers and Employees has alleged that post the government's demonetisation move, the image of the Central bank has been dented beyond repair.

rbi

"Commenting on the "mismanagement" since November 8 when demonetisation was announced and the criticism from different quarters followed, the letter said, "Its (RBI's) autonomy and image have been dented beyond repair," an official of the All India Reserve Bank officers Association said here.

"We request the Governor of the RBI, its highest functionary and protector of its autonomy and prestige, to do the needful urgently to do away with this unwarranted interference from the Finance Ministry and assure the staff accordingly as the staff feels humiliated," the letter added.

Various employee unions of the central bank have objected to the government "impinging on RBI autonomy" and have written to Patel to take action against the "unwarranted interference".

In a letter, they said the autonomy and image of the RBI has been "dented beyond repair" due to mismanagement and termed the appointment of a senior Finance Ministry official as a "blatant encroachment" of its exclusive turf of currency management.

"If true, this is most unfortunate and we take strong exception to this measure of the government as impinging on the RBI autonomy and its statutory as well as operational jurisdiction," the letter said.

The Association asserts that the RBI is fully capable to co-ordinate the central bank's currency chest operations which it has been performing over decades, and they do not need "any assistance" from anywhere.

The letter suggests that the union may assume that the RBI did not ask for deployment of a joint secretary of the Finance Ministry in its functions, rather it's the latter which has imposed itself on the central bank, which is absolutely unacceptable and deplorable.

The official of RBI officers association stated that there have been no review in pension issue for last 16 years has displayed hostilities on the employees.

The letter sought to draw attention to the RBI Act 1934, which stipulates that the central bank was constituted lo "regulate the issue of notes and keeping of reserves with a view to secure monetary stability in India" and generally to operate the currency and credit system of the country.

The association also urged the media to voice grievances associated with the RBI.

The letter comes days after concerns about RBI's functioning being raised by at least three former governors -- Manmohan Singh (former prime minister), Y. V. Reddy and Bimal Jalan. Former deputy governors including Usha Thorat and K. C. Chakrabarty have also voiced their concerns in this regard.

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Think Tank
 - 
Saturday, 14 Jan 2017

MODI has done it.....................Greed for name and fame.............by the cost of Common Man's Black(White)Money

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News Network
June 24,2020

New Delhi, Jun 24: In a stinging attack on the Gandhi family of the Congress, BJP president J P Nadda on Wednesday said a dynasty and its courtiers have "grand delusions" of the opposition being about itself and stated that a "rejected and ejected" family is not equal to the entire opposition.

In his tweets, Nadda said it was the time for unity and solidarity, and the "relaunch of the scion for the nth time can wait", an apparent dig at Rahul Gandhi, who has been aggressive in his attacks on Prime Minister Narendra Modi for his handling of the border row with China.

Nadda said India lost thousands of square kilometres of land due to the "misadventures of one dynasty" and claimed that the Siachen glacier, where the Indian Army has a strong presence, was almost gone. No wonder India has rejected them, he said.'

The BJP president posted a news report to back his assertions about Siachen.

"One 'royal' dynasty and their 'loyal' courtiers have grand delusions of the Opposition being about one dynasty. A dynast throws tantrums and his courtiers peddle that fake narrative. The latest one relates to the Opposition asking questions to the Government," Nadda said.

Though he did not directly name the Gandhi family or any of its members, the reference was clear.

He said it was the opposition's right to ask questions and added that the all-party meeting called by Prime Minister Narendra Modi saw healthy deliberations, with several opposition leaders giving their valuable inputs.

They also fully supported the Centre in determining the way ahead, Nadda said.

"One family was an exception. Any guesses who," he asked.

Targeting the Gandhis, the BJP president said, "One rejected and ejected dynasty is NOT equal to the entire Opposition. One dynasty's interests are not India's interests. Today, the nation is united and supportive of our armed forces. This is the time for unity and solidarity. Relaunch of 'the scion' for the nth time can wait."

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News Network
July 10,2020

New Delhi, Jul 10: With the highest single-day spike of 26,506 COVID-19 cases and 475 deaths reported in the last 24 hours, the total number of COVID-19 cases in India reached 7,93,802 on Friday, according to the Union Ministry of Health and Family Welfare.

Out of the total number of cases, 2,76,685 are active, 4,95,513 have been cured/discharged/migrated and 21,604 have died so far due to the infection.

With as many as 2,30,599 COVID-19 cases, Maharashtra continues to remain the worst-affected state, followed by Tamil Nadu (1,26,581) and Delhi (1,07,051).

Meanwhile, 2,83,659 samples were tested for coronavirus on Thursday, taking the total number of samples tested up to July 9 to 1,10,24,491, according to the Indian Council of Medical Research (ICMR).

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Agencies
April 24,2020

New Delhi, Apr 24: Congress leader Rahul Gandhi has termed the government decision to freeze Dearness Allowance of Central government employees for a year as "insensitive and inhuman."

The former Congress President in a tweet said: "Lakhs and crores are being spent on the Bullet Train and New Delhi's Central Vista which should have been suspended, but the government has deducted DA of Central government employees and pensioners... It is insensitive and inhuman."

"The tragic part is that by deducting this amount from January 1, 2020 up to 30th June, 2021 for a period of 1.5 years, the government of India proceeds to deduct almost Rs 38 thousand crore from the income of these middle class government employees and pensioners, who rely completely on the pay and pensions that they receive," said Randeep Surjewala, chief spokesperson of Congress.

There are about 50 lakh such serving government employees and about 62 lakh pensioners.

"Even more tragic and objectionable is the fact that the government of India has not even spared our armed forces. The government has deducted Rs 11 thousand crore of the 15 lakh serving armed forces personnel and nearly 26 lakh military pensioners. What is their fault? They are serving the nation in times of all types of crises," said Surjewala.

The Congress alleged that the government did not spare the savings scheme.

Instead of curbing the wasteful expenditure, the government has been constantly hitting at the income of government employees and the middle class, it added.

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