Friday, July 4, 2014

Ocean of uncertainty


One’s opposition to interference with RBI’s autonomy in carrying out its mandated role, one’s irritation with Srikrishna’s proposal for a sword above RBI, one’s trust in the scriptures like Gita…all melts down and flows towards the ocean of uncertainty with which all of us retirees of RBI will join, one day. Dr Gopalakrishnan used to start his discourses saying that ‘me and none of you sitting before me existed this day, last century and none of us will remain on this side of the planet, this day next century…’In between, can we not help each other…by doing whatever is within our ‘legitimate powers’? Yes, I am still on RBI pension and ex-gratia issues! There is a pension fund created to make sure that every living pensioner and serving employee eligible for pension will be paid pension as it becomes due. Periodic revision was factored into RBI Pension Regulations and if any doubt was left, it was clarified through a March 13, 1992 internal circular. If all these still leave RBI in doubt and resultant procrastination, the institution deserves to be ‘supervised’ by someone above!  
- M.G.Warrier

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