Mumbai: Feeling "humiliated" by the events since demonetization, RBI employees Friday wrote to governor Urjit Patel protesting against operational "mismanagement" in the exercise.
In a letter, they said autonomy and image of RBI have been "dented beyond repair" due to the mismanagement and termed the appointment of a senior finance ministry official as a "blatant encroachment" on 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 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."
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, 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".
"May we request that as the governor of RBI, its highest functionary and protector of its autonomy and prestige, you will please do the needful urgently to do away with this unwarranted interference from the ministry of finance, and assure the staff accordingly, as the staff feel humiliated," it said, soliciting "urgent action".
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.
The letter said the RBI staff has carried out its job excellently following the move to ban 87 percent of the outstanding currency by the government.
Later, the finance ministry said that it respected the autonomy and independence of the Reserve Bank of India.
