- RBI employees said that the central bank's image 'dented beyond repair'
- The forum represents over 18,000 employees of RBI
- The letter comes days after concerns about RBI's functioning being raised
In a letter, they said autonomy and image of RBI has been "dented beyond repair" due to mismanagement and termed appointment of a senior Finance Ministry official as a "blatant encroachment" of its exclusive turf of currency management.
"An image of efficiency and independence that RBI assiduously built up over decades by the strenuous efforts of its staff and judicious policy making has gone into smithereens in no time. We feel extremely pained," the United Forum of Reserve Bank Officers and Employees said in the letter addressed to Dr Patel.
Commenting on "mismanagement" since November 8, when note ban was announced, and the criticism from different quarters, the letter said, "It's (RBI's) autonomy and image have been dented beyond repair."
Also Read: Refusing Questions On Notes Ban, RBI Cites Threat To Life, Says Report
At least two of the four signatories --- Samir Ghosh of All India Reserve Bank Employees Association and Suryakant Mahadik of All India Reserve Bank Workers Federation --- confirmed the letter. The other signatories are C M Paulsil of All India Reserve Bank Officers Association and R N Vatsa of RBI Officers Association.
The forum represents over 18,000 employees of the RBI across the ranks, Mr Ghosh said.
The letter said appointment of an officer to coordinate currency management is a "blatant encroachment" on the exclusive jurisdiction of the RBI on currency and accused the Government of "impinging on RBI autonomy".
Also Read: RBI Says Recommended Notes Ban After Government's Advice
The RBI has been discharging the role of currency management for over eight decades since 1935, it said, adding the central bank does not need "any assistance" and the interference from FinMin is "absolutely unacceptable and deplorable".
The letter comes days after concerns about RBI's functioning being raised by at least three former Governors -- Manmohan Singh (former PM), Y V Reddy and Bimal Jalan. Former Deputy Governors, including Usha Thorat and K C Chakrabarty, have also voiced their concerns.
The letter said the RBI staff has carried out its job excellently following the move to ban 87 per cent of the outstanding currency by the Government.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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