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Kolkata, April 1 The Reserve Bank of India has no no plans to cut down on its present nature and volume of work governing payment and settlement system and will therefore carry on with the clearing operations as hitherto. A communication to this effect has been submitted by the RBI to the Deputy Chief Labour Commissioner, Mumbai. With this, about 1,500 jobs cutting across various cadres in RBI get protected.

The communication comes in the wake of assurance given by the Union Finance Minister, Mr P Chidambaram, in Parliament. The RBI operates payment system in four metros and also provides a number of payment services in 14 cities or so where it has regional offices. “That will continue and continue in the foreseeable future”, Mr Chidambaram had said.

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