RBI employees oppose outsourcing work

Bhubaneshwar: The All India Reserve Bank Employees Association (AIRBEA) has laid the following demands: It wants that RBI should stop outsourcing its work as this involves the security of the nation; take suitable measures for ensuring circulation of clean note; and start the recruitment at the clerical level, which have been frozen for more than a decade.

Samir Ghosh, general secretary, AIRBEA alleged that Reserve Bank of India (RBI) said even though currency management is one of the statutory responsibilities of the Reserve Bank of India, it is now virtually in shambles.

He said the manual system has been abandoned while imported machines have miserably failed to cope with the situation. Notes are pilling up in RBI vaults and chest offices, choking the whole system of processing soil notes.

To overcome the difficulty, RBI has decided to shred and destroy the soiled notes without proper scrutiny. Absence of a system of close scrutiny may encourage anti-national elements to circulate fake currency notes in the country, he said.

Ghosh said the decision of the RBI to give up the work of public debt management of states and the central government will put many weaker states under pressure. He added that the states will find it difficult to sell their bonds if they do not offer higher interest rate.