RBI says impact on payment and settlement due to Tuesday strike

The Reserve Bank of India today said that there may be some disruption of normal work, including an impact on the payment and settlement system, on Tuesday due a call given by the United Forum of Reserve Bank Officers and Employees giving to its members to apply for mass casual leave on the day.

While RBI is trying to ensure that services are carried out and disruption is minimal, it has advised the public to complete their transactions on Monday itself to avoid inconvenience.

"The Reserve Bank of India has stated that such action on their part amounts to cessation of work and concerted refusal to work. Apart from such action being uncalled for, in the absence of due notice, it amounts to an illegal strike," a statement issued by the central bank today said.

A meeting between the employees and the RBI top management ended in a stalemate with Governor D Subbarao refusing to either press for an immediate withdrawal of the government’s notification to stop update of basic pension or to put it on hold for some time instead of immediate implementation.