RBI officers unhappy with new promotion policy, seek return to old system

With the new policy, only 75% of the officers with a particular rank would be promoted, while it was 90% earlier

The Reserve Bank of India’s (RBI) new promotion policy has stirred up a hornet’s nest among officers demanding the central bank reverts back to the old system of cut-off for promotions under its new governor. 

The central bank has grades A to F in its officer pecking order. While A is the assistant, F is the chief general manager. The latest stir and cut-off pertains to ranks up to E.

From rank A to rank B, promotion is strictly merit based; from B to C, it is automatic; C to D and D to E are automatic, but with a