Mass walkout at RBI disrupts clearing and settlement

A mass walkout at the Reserve Bank of India (RBI) saw the majority of its 17,000 staff strike today (November 19), leading to “some interruptions” in the central bank’s clearing and settlement operations.

Staff were protesting government plans they fear will “cripple” the central bank, according to a ‘United Forum of Reserve Bank Officers and Employees’ incorporating four RBI workers’ unions.

They object to proposals that would reduce the RBI’s debt management functions, handing them to a new

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