Reserve Bank of India was asked to prepare a list of suggested amendments in pension provision by union government to call off a mass casual leave protest.
The apex bank is now preparing a list of probable changes which the employees have requested in the protest. RBI retirees earlier used to get pension equivalent to a central government employee. In 2008, the scheme was abolished.
A source cited by Live Mint stated that the change includes a clause wherein the pension receiver will get update pensions at par with government retirees. He further added “Apart from updating a clause, RBI will also have to specify at what intervals the pension should be updated.”
Urjit Patel, governor, RBI, requested finance ministry to resolve issues related to RBI pensioner. The finance ministry in August asked to propose changes in RBI Pension Regulations.
Reportedly, The demands of unions of the central bank were nullified by the government. RBI union on 28 August told that since the government use to increase pension’s at regular interval, RBI’s pension was also brought in compliance with 1997-2002 pay scale which covered pensioner up to October 2002.
RBI borne its pension from Pension corpus fund which is evaluated at ₹16,000 crore.