20 February,2009 03:11 PM IST | | PTI
Reserve Bank of India employees on Friday struck work opposing the drastic reduction of pension to retired employees of the apex bank.
RBI employees have gone on a 'mass casual leave' demanding the restoration of the updated pension scheme that was withdrawn earlier to pre-November 1997 retirees.
"The government and the RBI have been very rigid in their response to our demands. We have, therefore, decided to strike work," All India Reserve Bank Employees' Association's Vice-President, Ajit subedar said here.
The central bank had recently issued an internal circular at the behest of the Finance Ministry to withdraw the updated pension scheme, Subedar said.
The circular announced a drastic reduction of pension to retired RBI employees in relation to that drawn by government retirees of comparable levels.
The RBI yesterday said that such an action (mass casual leave) amounted to cessation of work and concerted refusal to work. Following the strike call, the central bank conducted its daily liquidity adjustment facility auctions yesterday itself for five days.
