RBI cuts faculty allowance as Governor Shaktikanta Das appeals for calm

The bank cut faculty allowances of members at various training establishments to 10% of the basic, from 30% earlier, without giving any reason

As soon as Reserve Bank of India (RBI) governor Shaktikanta Das requested junior and mid-level officers, on a stir against the central bank’s promotion policy, to maintain peace, the bank initiated one more cut in allowances late on Friday.

This time, the bank cut faculty allowances of members at various training establishments to 10 per cent of the basic, from 30 per cent earlier, without giving any reason. The notification came late on Friday.

“This is deliberately done to insult central bank staffers, or there is something deeper,” said an official. However, the staff said these changes were initiated before the new