Business

RBI staff plans mass leave on Nov 19

Kolkata,November 12: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 said.

"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.

Market Xcel enters the big Data Analytics Arena

New Delhi : Market Xcel Data Matrix Pvt. Ltd. has forayed into Big Data Analytics a field that presents massive opportunities for the Research Industr...

Now students can personalize their growth using these Apps

New Delhi : A recent study found that 12 percent of youth between the ages of 13 and 17 check their phone every few seconds.It's up to companies to bu...

Mukesh Ambani dethrones Jack Ma, becomes Asia's richest person

New Delhi : Reliance Industries Ltd (RIL) Chairman Mukesh Ambani has surpassed Alibaba Group's Jack Ma to become Asia's richest person.While Ambani wa...

Entrepreneurs 'Unbox' at the 2018 EO South Asia Leadership Conference

Mumbai : Entrepreneurs' Organization (EO), the world's leading peer-to-peer network of successful business owners, brought together over 200 member en...