1. Union seeks intervention of MPs to preserve RBI’s ‘authority’

Union seeks intervention of MPs to preserve RBI’s ‘authority’

Officers and employees of the RBI have voiced concern over the Centre’s proposed ‘far-reaching changes’...

By: | Published: April 23, 2015 12:18 AM

Officers and employees of the RBI have voiced concern over the Centre’s proposed ‘far-reaching changes’ in the power of the central bank, and appealed to MPs and chief ministers of states to intervene.

According to the United Forum of Reserve Bank Officers & Employees, if certain provisions of Finance Bill are implemented, RBI’s functioning, authority, jurisdiction and effectiveness would be seriously impacted.

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