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Home / News / Business News / Bond trading disrupted due to RBI staff protest
  • Business

    Bond trading disrupted due to RBI staff protest

    Kartikeya Jain
    Written by
    Kartikeya Jain
    Mail
    Last updated on Nov 19, 2015, 09:34 am
    Bond trading disrupted due to RBI staff protest
    Credits:
  • Bond trading was hit on November 18 as investors and traders stayed away from the market.

    They were worried by the Reserve Bank of India staff unions calling on their members to take protest leave which could upset payment settlements.

    Buying and selling activities came down to Rs.9000 crore in a week compared to daily average bonds worth Rs.20000 crore.

  • In this article
    Jaitley proposes public debt management agency Happy to let PDMA go to government: Rajan RBI staff plans strike on November 19 Similar protest in 2009 RBI terms protest illegal, staffers to still do it Bond trading disrupted due to RBI staff protest
  • 28 Feb 2015

    Jaitley proposes public debt management agency

    Jaitley proposes public debt management agency
    Credits:
  • Presenting the 2015-16 budget, finance minister Arun Jaitley proposed to establish a public debt management agency (PDMA).

    He said that PDMA would bring India's external borrowings and domestic debt under one roof.

    He added that the Indian bond market needs to be made world class so as to promote investment in the country, especially in the infrastructure sector.

  • 29 May 2015

    Happy to let PDMA go to government: Rajan

    Happy to let PDMA go to government: Rajan
    Credits:
  • RBI Governor Raghuram Rajan said there was no reason for RBI to manage public debt and he would be happy if ythe management goes to government.

    He said there was full understanding between him and finance minister on setting up the PDMA.

    A roadmap was being prepared by the government in order to transfer the debt management function from RBI to an independent agency.

  • 12 Nov 2015

    RBI staff plans strike on November 19

    RBI staff plans strike on November 19
  • RBI employees were planning to go on a one-day mass leave to protest against the government's attempts to intervene in monetary policy.

    An official said that the mechanism of government's Public Debt Management Agency (PDMA) intervened in the RBI's jurisdiction.

    He said that in the name of draft financial code and legislative reforms, the government of India was trying to cripple RBI.

  • Information

    Similar protest in 2009

  • On 20 February 2009, RBI staff had staged a similar protest after the government had refused to align the RBI's pensions in line with that of the federal and state governments.

  • 16 Nov 2015

    RBI terms protest illegal, staffers to still do it

    RBI terms protest illegal, staffers to still do it
  • The RBI management termed staffers' plan to take mass casual leave as illegal.

    However, union leaders said that RBI employees and officers would observe mass casual leave on November 19.

    The Convener of United Forum of Reserve Bank Officers and Employees, Samir Ghosh said this would express their strong opposition to systematic curtailment of functions, authority and jurisdiction of RBI by the government.

  • 19 Nov 2015

    Bond trading disrupted due to RBI staff protest

    Bond trading disrupted due to RBI staff protest
    Credits:
  • Bond trading was hit on November 18 as investors and traders stayed away from the market.

    They were worried by the Reserve Bank of India staff unions calling on their members to take protest leave which could upset payment settlements.

    Buying and selling activities came down to Rs.9000 crore in a week compared to daily average bonds worth Rs.20000 crore.

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