16 September 2015 06:37:35 IST

Reserve Bank staff unions hope OROP will come their way too

United Forum of Reserve Bank Officers and Employees ‘welcomed’ Centre conceding demand for OROP

The announcement of OROP (one rank, one pension) scheme for military personnel may have just provided the trigger for a similar demand from organised trade unions in other sectors.

A meeting of the United Forum of Reserve Bank Officers and Employees held in Mumbai on September 14 flagged the issue, union sources told BusinessLine .


The united forum ‘welcomed’ the Centre conceding the demand for OROP from ‘a section of its staff’.

It expressed the strong hope that ‘in course of time, other sections of working people and retirees will be brought under (the scheme) for securing their future.’

The United Forum also took note of the stalemate on the issue of pension updation and opening of pension option, issues which have been pursued for the past eight years.

The RBI board has taken up the issue with the Government and Governors D Subba Rao and successor Raghuram Rajan, who have, in turn, escalated the same to various levels.


Governor Rajan made a reference to the issue in his ‘overview’ to the bank’s annual report in 2014-15.

He said the ‘long-pending improvement in pension for our retirees also assumes importance.’

Opening of the pension issue involved only a few hundred employees/retirees, a statement by various union leaders Samir Ghosh, SV Mahadik, CM Paulsil and RN Vatsa. said.

The meeting also resolved to fight the Government’s move to emasculate the RBI in the guise of ‘regulatory reform.’

RBI is an important institution for the national economy and sovereignty. To weaken it, as the Government seems bent on doing, is deleterious to national interest, the statement said.


The RBI Act Amendment Bill is sought to be brought forward in the next session of Parliament, which would sound the death knell for the apex bank.

Already, RBI has shrunk a lot. Once the RBI Act is amended, many more important departments/ jobs would go.

The United Forum called upon all RBI employees and officers to stand united in defence of the autonomy, independence, and jurisdiction of the RBI.

It resolved that all its peaceful and persuasive efforts not having fructified so far, it has no alternative but to resort to direct action.

It exhorted all sections of staff to go on mass casual leave by mid-November, immediately after the festive season is over.