pension updation for RBI

Pension updation for RBI retirees – a test for RBI autonomy-S.S. Tarapore

10SEP

Mr. S.S. Tarapore is an economist. He joined Reserve Bank of India in 1961 as Research Officer and retired in 1996 as Deputy Governor. He runs his own Multi-Language Syndicated Column. Referring to the long-standing issue of pensions ( Problem of Retirees in RBI)  in his column ‘Common Voice’-in an article titled ” A glimpse into RBI annual report ” he urges RBI “…to use the retirees’ pension issue as a test case of autonomy…”  “By not allowing updation of pensions for RBI retirees- while this is taken as a matter of right by Central Government retirees- is tantamount to tyranny. Autonomy is never given, it is earned and taken. The RBI has certainly earned it and it is now for RBI to take its autonomy.”
Although similar views have been expressed in this blog-about Pension updation, and elsewhere- the words of an economist and ex-deputy Governor, should carry more weight with the authorities concerned.

But,how much weight these words shall carry with RBI ? How much ” Delhi bureaucracy” will take steps  for solving the long-standing “Pension updation” in RBI? The circumstances since 10th Bipartite settlement do not allow us to nurture false hopes  from RBI, when governor has expressed his inability to proceed without clearance from ” Delhi Bureaucracy”. Or from the Government which is sitting over the matter despite approval in principle. Even the unions/associations involved seem withdrawn since long and the believers, who have been asking members to wait till September to get something in lieu of pension updation, have also become sceptical. September is retreating like  Monsoon.  In the garb of   elections new scales are not likely to be formed before November and then new further  ideas ” in lieu of pension updation” are likely be floated. We will be hoping against hope and 2016 may dawn with lesser number of pensioners needing updation.
But governor’s well considered  reference to the issue (staff matters in the Annual report para x.28) at least maybe of some help to those who intend to move judiciary in the matter. We are getting a large number of requests for  such an action from our readers.
Readers may offer their comments and suggestions in the blog as well as at Facebook and twitter for a practical and alternative action plan rather than ” hoping against hope” indefinitely.