RBI and Retired Employees

Unless and Until,the Retirees take up the matter to the court, nothing is going to happen. RBI though has a reputation as a prestigious institution to the outside world, it does not keep up this image with its own staff particularly retirees. Even the pension approved by the Central Govt in 1990 with a provision to have periodical updation on the basis of Central Govt employees has been stalled on silly grounds although it has its own funds to meet the commitments comfortably. Today’s position is that the Retirees cannot openly disclose their pension to even their own relatives to maintain the prestige of the RBI. The moment one tells the amount they look down upon and have a contemptuous feeling. Some of the class IV employees, lower division clerks, teachers and other staff comparatively lower in status (compared to RBI’s staff who include General Managers and Chief General Managers) retired from some state Govt and other services are drawing more pension and other medical facilities is a fact which RBI does not want to accept or believe to improve the pension of its retirees. The loss indicated in the statements is substantial and should be claimed through legal proceedings. The cost of living has skyrocketed and is no where near RBI’s inflation index is worldly known and the Pensioners are finding it hard to make both ends meet is the ground reality. The medical facilities offered are only a pittance and many are not able to avail it of due to certain practical difficulties because of age, place of settlement away from offices and the inflexibility of giving the medicines retirees want.
It is better to organize and fight the issue through court to get justice and remain in a dignified manner.

( This comment I gave in response to the write up My view - the age old problem by Mr Parab appeared in Tarambales'Posting. )