The Hindu Business Line : ‘No fresh hiring for 15 years by RBI’

Kolkata, Jan 21 The Reserve Bank of India (RBI) has not inspected the operations of the authorised dealers of foreign currencies for the past three years, thus marking a sharp departure from the earlier practice of undertaking regular inspections, complains, the All India Reserve Bank Employees Association (AIRBEA). Attributing it to the staff shortage, AIRBEA, in a statement said there has been no base level recruitment in past 15 years .

The base level staff (class III) strength in RBI, it is pointed out, has been curtailed from 17,000 in 1995 to less than 6,000 in December 2007 while the total number staff covering all categories by less than half during the same period.

The AIRBEA has also expressed concern over the Public Debt Separation Act being planned by the RBI. It said the Act will stop providing guarantees to the bonds floated by State Governments. .

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‘No fresh hiring for 15 years by RBI’