RBI governor Das faces more than just regulatory, monetary issues

RBI's HR department issued a circular stating that the bottom 25% in the grade B to C and D to E won't get a promotion, a ceiling raised from the bottom 10% earlier

Junior and mid-level officials of the Reserve Bank of India (RBI) are upset with a new circular that reduces their eligibility for the next promotion. And their agitation may not be out of place when one looks at the shrinking scope for promotions at the top itself.

The human resource (HR) challenge seems to be one of the most important issues that newly-appointed RBI Governor Shaktikanta Das will have to tackle, apart from bigger ones such as reserves transfer to the government and maintaining the autonomy of the RBI.

The central bank’s HR department stirred up a hornets’ nest last Friday when