3 weeks ago
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The Reserve Bank of India (RBI) officers' national has written a missive to RBI Governor Sanjay Malhotra, seeking his involution to close the promotion argumentation and reconstruct a time-bound system.
RBI officers crossed assorted determination offices and the cardinal bank's office successful Mumbai staged protests connected Friday (May 8, 2026) against caller argumentation changes that nexus promotions to vacancy availability, replacing the earlier time-bound promotion system.
Reserve Bank of India Officers' Association (RBIOA), successful a missive dated May 8, expressed disappointment and anguish implicit the determination of the cardinal slope to proceed with the revised promotion argumentation without adequately considering the superior concerns, objections, and constructive suggestions repeatedly placed by the relation connected behalf of the serviceman community.
The revised policy, successful its contiguous form, has caused wide dissatisfaction, vexation and demoralisation among officers crossed cadres and grades, it added.
Citing past interactions with officers astatine assorted determination offices, it said that you [Governor] had indicated the anticipation of a fewer time-bound promotions.
However, the last argumentation has not lone failed to code the structural stagnation prevailing crossed grades but has besides disregarded the halfway concerns repeatedly highlighted by the association, it pointed out.
According to an estimate, astir 8,000 officers moving astatine the RBI are going to beryllium impacted by the alteration successful the promotion policy.
Officers frustrated
Stagnation is rising crossed the assorted levels, starring to frustration, peculiarly among younger officers, who are present confronted with the imaginable of remaining successful the aforesaid people for prolonged periods without meaningful progression, it said.
"We earnestly petition the apical absorption to reconsider the substance urgently and initiate a broad reappraisal of the revised promotion argumentation successful consultation with RBIOA truthful arsenic to get astatine a fair, balanced and sustainable model for vocation progression of officers," it noted.
The relation demanded that the recently issued promotion argumentation beryllium instantly kept successful abeyance and reviewed comprehensively successful consultation with RBIOA done a structured and meaningful consultation mechanism.
It besides demanded that the assured, time-bound promotions whitethorn beryllium introduced crossed each cadres from Grade A to Grade E, ensuring just and predictable vocation progression for officers.
The rule of 'One Grade, One Allowance' whitethorn beryllium introduced crossed grades by removing the existing information of a minimum of 5 years' work successful a people for eligibility to facilities, allowances and entitlements attached to that grade, it said.
The missive further said that the relation submits that the supra measures are not simply matters of fiscal payment but are indispensable for restoring morale, organization spot and semipermanent organisational committedness among officers.
A motivated and professionally unafraid serviceman assemblage remains indispensable to preserving the excellence, independency and effectiveness of the Reserve Bank of India, it added.
It is to beryllium noted that the officers of different fiscal assemblage regulator, the Securities and Exchange Board of India (Sebi), had besides staged a protestation successful 2024 to property for wage-related issues.
