Where is the autonomy?

This rfers to the news item Centre’s delay in approving pension updation scheme irks RBI retirees (Business line Oct 8,2015). It is unfortunate that the Periodical updation of pension on par with Central Government employees which was agreed and implemented in terms of an agreement between the Central Government and the RBI in 1990 was arbitrarily withdrawn by means of an oral order without any rhyme or reason and the retirees are made to suffer since 2005 in the fag end of their life. RBI is supposed to be enjoying autonomy but one wonders even for the payment of pension for which it does not depend on the Central government as it has its own funds specifically earmarked, has to get the clearance from the Government. It is not only the question of autonomy but it is  also the question of survival of retirees in these days of high inflation, exorbitant medical expenditures and ever increasing taxes and declining interest rates on deposits that worries and  kills literally the retirees.  The dispute seems to have come out of some ego and definitely not for want of resources or not recognizing the genuine need to update the pension which is universally and generally done to keep up the social security aspects and to maintain the standards of life for the retirees.  Retirees cannot be condemned as they have toiled to keep up and contributed a lot to enhance the image of RBI which enjoys international recognition for its professionalism and competence. This should have been settled amicably between the Central Government and RBI without involving much of publicity.

T R Usha