RBI Staff Prepare for a 2-Day Strike Over Pension

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    The Reserve Bank of India (RBI) staff members will go on strike on 5 and 6 September, over long-pending pension disputes. As per a statement by the United Forum of Reserve Bank Officers and Employees released on Wednesday, the forum's demands on a revision of pension payments for retired officials were not approved by the regulator and the Ministry of Finance officials.

    RBI Staff Prepare for a 2-Day Strike Over Pension

    The statement said that the protest will first begin with a meeting with the RBI's central board, followed by a gate demonstration on 20 August across all central bank offices in the country and then culminate in the two-day protest through mass casual leaves by all associated RBI employees.

    The decision on strike was taken on 3 August following a meeting with other employee unions at the RBI.

    The forum has claimed in its memorandum that the central bank's pension fund was worth Rs 15,359.97 crore on June 2017, which is sufficient to pay off all pending dues to retired RBI officials. It also said that RBI Governor Urjit Patel also recently wrote to the Finance Ministry seeking approval for clearance of pending dues, and it was rejected by the government.

    A similar strike was conducted in November 2017.

    Read more about: rbi
    Story first published: Thursday, August 9, 2018, 14:05 [IST]
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