The pathetic condition of RBI and the employees

This mass casual leave by the employees of RBI definitely could have been avoided had the Government been a little sensitive and and had acted responsibly understanding the need to have an independent Central Bank to ensure a very sound and strong  financial system very badly needed for the healthy and sustainable development of the economy.There is no room for politicization of this great and giant institution which has earned a name and reputation for its professionalism in discharging its responsibilities efficiently, effectively and in a very balanced manner adjusting to the political changes and the domestic and international economic dynamics.Instead of respecting and strengthening this mighty organisation, the approach is to dilute and weaken the Institution to satisfy the ego of some politicians and bureaucrats who have an axe to grind. Luckily the Governors were strong with a few exceptions perhaps and they could make the Institution nationally and internationally strong. The bureaucracy is treating this institution as a wing of the Government and interfering even in deciding the salaries and perquisites leave alone as to how to go about its important central banking responsibilities. Even the pensioners have not been left out and their pension updation has been stopped by a speaking order ignoring the agreement entered into between the Bank and the Government to grant /revise  pension for RBI retirees on par with the Central Government employees. way back in 1990. The politicians are unfortunately being hoodwinked by the bureaucrats and neither the Government nor the bureaucrats see any reasoning or rationale in stopping the pension enhancement which is nothing but a subsistence allowance having even the approval of the Supreme court.   
The Government definitely cannot weaken the RBI in its own interest, in the interests of the economy and in the interests of the people. It takes decades and lot of hard work, involvement and commitment to develop an institution strong, worthy of its responsibilities and get national and internation recognition. The backbone of any well established  institution is its Human resources and they cannot be ignored at any cost. Pension payments  for the retirees is only a social security measure and the need to revise the pension at periodical intervals in these days of galloping inflation is just a genuine need and very essential to keep the body and soul together. 

Dr T V Gopalakrishnan