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Our Bureau

Kolkata, June 23

The All India Reserve Bank Employees Association (AIRBEA) has reacted sharply to the Union Civil Aviation Ministry's move to transfer all its banking operations from the Reserve Bank of India and State Bank of India to ICICI Bank with effect from July 3, 2006.

The RBI, according to AIRBEA, has given approval to the proposed switchover. Describing the move as unfortunate, Mr Samir Ghosh, General Secretary of AIRBEA, in a statement, questioned the rationale of choosing a private bank in preference to SBI and the RBI, more so when the country's premier government owned-bank as well as the central bank had discharged their duties satisfactorily.

Normally all government accounts werehandled by SBI and the RBI and any deviation from this practice was unwelcome in the national interest.

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