Mumbai: A Reserve Bank of India employees union has written to Governor Urjit Patel objecting to a finance ministry move to send a joint secretary to coordinate cash operations at the central bank.
According to a copy of the letter posted on its web site, the United Forum of Reserve Bank Officers and Employees has called this move “unfortunate” and that it “impinged on RBI autonomy and its statutory as well as operational jurisdiction”, in a strongly worded letter to the governor.
The letter also highlights that RBI Act 1934 empowers the central bank to regulate the issue of bank notes.
“Right from 1935, for more than eight decades, RBI has been managing the currency system of the country seamlessly and fulfilling its statuary responsibility,” the letter said.
