RBI employee protest over new promotion policy to continue this week

The RBI Officers' Association has opposed the central bank's new promotion policy, citing delayed career progression, stagnation and lack of manpower planning

The Reserve Bank of India Officers’ Association (RBIOA) will continue protests this week in various central bank office premises across the country against RBI’s new promotion policy that came into effect last week, a note from the staff union said.

 

On Friday, protests occurred in several RBI offices across the country, including Mumbai, Jaipur and Hyderabad, on the issue. Employee associations of different regional RBI offices has submitted memorandum to the heads of such region for submission of their demands to RBI Governor Sanjay Malhorta.

 

In a letter to Malhotra last week, the officers’ association said they are disappointed that the bank decided to proceed with the revised promotion policy without adequately considering the serious concerns and objections of the association. One of the concerns of the association is delayed promotion, leading to stagnation. “The core issue is haphazard recruitment and absent of manpower planning,” said a member of the association.

 

 

The association has demanded time-bound promotions should be introduced across all cadres from Grade A to Grade E, ensuring fair and predictable career progression for officers. “The revised policy, in its present form, has caused widespread dissatisfaction, frustration and demoralisation among officers across cadres and grades,” it said, while adding the issue of stagnation is structural in nature and cannot be addressed merely through restrictive promotional measures.

 

The association urged the central bank the new promotion policy should be kept in abeyance and reviewed comprehensively in consultation with RBIOA through a structured and meaningful consultation mechanism.