CENTRAL GOVERNMENT EMPLOYEES NEWS

  • 7th CPC News
  • 7 CPC Calculator
  • Pay Matrix
  • Expected DA
Popular Topics

7 CPC PAY HIERARCHY TABLE

NPS TO OPS

EXPECTED DA & DR JAN 2019

RETIREMENT AGE LATEST NEWS

Rift between RBI and Central Government – BEFI

Rift between RBI and Central Government – BEFI

RIFT BETWEEN RBI AND THE CENTRAL GOVERNMENT

BANK EMPLOYEES FEDERATION OF INDIA

NARESH PAUL CENTRE
53 Radha Bazar Lane, (1st Floor), Kolkata – 700 001
e-mail: [email protected] Website: www.befi.in
(Ph):033- 2225-4414/2236-5108 (M) 9433144271 Fax: 033-2236-5109/2242-0690

Press Statement issued on 30th October 2018 by Shri Pradip Biswas,
General Secretary, Bank Employees Federation of India, at Kolkata,

ON THE RIFT BETWEEN RBI AND THE CENTRAL GOVERNMENT

We are disgusted, rather alarmed, at the public show of rift between the Reserve Bank of India (RBI) and the Central Govermment in recent months.

Based on the recommendation of the Royal Commission on Indian Currency and Finance (1926), as conceptualised by Dr. B.R.Ambedkar in his famous book, “The problem of the Rupee – its origin and its solution”, RBI was established in 1935 to take care of the financial troubles in the aftermath of the First World War. Since then it has been in charge of managing and regulating the currency and credit system, the monetary policy and foreign exchange reserves of the country; it also acts as the Banker to the Central and State Governments and exercises supervisory
and regulatory controls over the Banking System.

True to its policy of decimating all constitutional and other public institutions to suit its political agenda, the present dispensation at the centre has been out to undermining the autonomy and authority of RBI in all conceivable ways. It all started with the formation of the Monetary Policy Committee, in 2016, with three members nominated by the Centre, so as to gag the RBI’s absolute say in the matter of deciding interest rates. Then came the most ill-conceived demonetisation which, the RBI claimed to have been handed out to it by the Centre, a clear case of usurpation of authority of RBI in the matter of currency management.

To make RBI fall in line, Sri Nachiket Mor, a Director on the Board of RBI, was then removed more than two years before his term was to expire; at the same time, Sri S. Gurumurthy and Sri S. Marathe, having RSS-links, were inducted into the Board much to the displeasure of the Govornor. Then it has been flexing its muscles on the issues of management of Bad Loans (called NPA) of Banks and Prompt Corrective Action (PCA) thereagainst.

There are tussle, also, over Special Window for Dollar Sales to Oil Companies, over funding of Non-Banking Financial Companies, over formation of a separate Payment Regulator etc. To top it all, the Centre wants the RBI to transfer its reserves to the central exchequer; while RBI has made a pay-out of a whopping Rs.30,000/- crore this fiscal, the Centre demands at least Rs.66,000/- Crore which the RBI has declined. The list is almost unending but having one single objective of decimating the Reserve Bank of India, the Central Bank of the country.

While we do not subscribe to all the decisions of RBI at all times, there is no denying that the firm intervention by RBI has saved our economy from many a crisis, the latest being the global financial meltdown of 2008; we firmly believe that undermining RBI would, in its wake, bring about a costly disaster for our economy.

We, therefore, demand that the authority, autonomy and independence of RBI be further strengthened so as to enable it exercise more and stringent supervisory and regulatory control over the banking and monetary system in the best interest of our country.

For favour of circulation/broadcasting/telecasting through your esteemed media.

(Joydeb Dasgupta)
Secretary

Source: BEFI

Also read this...

  1. Central Government permits Rs. 500 and Rs. 1000 currency notes on highway toll plazas till midnight of 11.11.2016
  2. Non Functional ATMS to be normalized soon – Finance Ministry
  3. Government Clarification on Amendment to Payment of Wages Act
  4. Bank employees to observe one-day strike on July 29
  5. Removal of state-wise jurisdiction of Banks for disbursement of Central Government (Civil) Pensioners: Clarification regarding
  6. Development of Single Window Service for Central Government Pensioners
  7. Bank Strike today – a Massive Success
  8. Overtime Allowance for Extra-Work : BEFI
  9. Demonestisation killed 1.5 million jobs – BEFI

November 1, 2018 Tagged With: Bank Employees News, BEFI, RBI Filed Under: Bank Employees News

CSD Area Depot Address and Contact Numbers

CSD Price List of Yamaha Bike & Scooter 2018

CSD Nexa Maruti Car Price 2018

CSD Maruti Nexa Car Price Chennai Depot 2018

CSD Pensioners Requested to send their Details to Head Office

Central govt employees news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Recent Developments

  • BSNL Nationwide three days strike from 18th February 2019
  • 7th CPC Railway Accounts Examination Allowance – AIRF
  • Dearness Allowance for workmen and officer employees in banks
  • Number of incidents of fratricide cases in the armed forces
  • Modernisation of the Armed Forces is a continuous process
  • Employment in Defence Corridor Project
  • Cabinet approves Revision in the list of Scheduled Tribes of Chhattisgarh
  • Prime Minister’s Statement on terror attack in Pulwama
  • How is a child defined for the purpose of grant of Paternity Leave
  • Interest on Leave Encashment Study Leave — Central Government Employees News

Top Stories

PCDA Clarification on DR to re-employed Ex-servicemen
List of AMA Doctors in Kolkata
10th BPS-Pension Effect Due to 10th Bipartite Settlement
Indian Railway introduced VRS scheme after 10 years of service
Cabinet Approved Retirement Age 60 to 65
New ID cards for Physically Challenged Persons
IBA’s Circular on Stagnation Increments to Clerical Staff – AIBEA
7th CPC HBA : House Building Advance Rules 2017
Travelling Allowance for Election Duty – Clarification

7 CPC CALCULATORS


7 CPC DA CALCULATOR
7 CPC OPTION CALCULATOR
7 CPC PAY CALCULATOR
7 CPC ARREARS CALCULATOR
7 CPC EXPECTED DA CALCULATOR
7 CPC PROMOTION CALCULATOR

FREE EMAIL SUBSCRIPTION

Enter your email address:

Delivered by FeedBurner

Quick Links


7 CPC Table


7 CPC Calculation


7 CPC Defence


Bank Employees News


Bio-Metric Attendance


Bonus


Cadre Restructure


Cadre Review


CCS Rules


Central Government Employees News


CGHS Hospitals


CGHS Orders 2015


Children Education Allowance


Classification of Posts


Compassionate Appointment


Confederation news


CSD Price List


DA Merger


DA Merger with Basic Pay


DA Orders


Dopt Orders


Dopt Orders 2015

Ex-Servicemen


Expected DA


Expected DA from July 2015


Finmin Orders


Holidays


Holidays 2015


INCOME TAX


LDC UDC Issues


LTC


MACP

Copyright © 2019 · eleven40 Pro Theme On Genesis Framework · WordPress · Log in