Rbi Staff Warns Of Significant Unrest

The All India Reserve Bank Employees Association (Airbea) today warned that the Reserve Bank of India (RBI) management's threat to de-recognise it could snowball into a major industrial unrest.

The RBI had last week issued a show-cause notice to the union for holding a day long strike on September 6.

Airbea said the central bank's action could lead to a prolonged industrial unrest in the RBI to the detriment of the national economy.

The RBI had issued the show-cause notice asking the AIRBEA to explain why its recognition should not be cancelled.

The strike by the 16,000 strong clerical category staff of the central bank paralysed the functioning of both the money and foreign exchange markets.

The notice also takes into account the participation by the union in the earlier strikes on May 11 and December 21, 2000, to protest the Centre's anti-people policies and de-nationalisation of public sector banks.

The September 6 strike had been called to protest the RBI management's "apathy and discrimination" towards its members as also for demanding correction of the anomaly that has creeped in the procedure adopted in giving increments as there were some cases where an employee who is an under-graduate gets higher increment than a graduate or a CAIIB qualified candidate; house furnishing allowance like the officers, and a change in designation among others.

"This (the notice) is extremely arbitrary and is aimed at bringing to naught all sorts of union activities in the Reserve Bank of India," the Airbea said in a statement.

The latest strike was resorted to after due notice was given in compliance with the provisions of the Industrial Disputes Act when all efforts of the Association spanning over a long period failed to persuade the management to negotiate and sort out the problems as per clear provisions laid down in the last wage settlement signed in mid-August 2000.