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Will outsourcing help RBI?

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July 25, 2007 11:33 IST

The All India Reserve Bank Employees Association held a meeting in Ahmedabad recently to discuss Reserve Bank of India's policies and its decision to outsource important functions. This could threaten the financial security of the country, the association alleged.

Addressing reporters in Ahmedabad, Samir Ghosh, general secretary of AIRBEA, said, "The RBI is outsourcing important part of its work, which will be catastrophic."

AIRBEA also expressed concern over the plan to hand over the sensitive job of inspection and audit of bank branches to chartered accountant firms.

Do you think RBI staff have a reason to fear or are their concern baseless? Will outsourcing lead to job cuts? Will it also demotivate the central bank employees?

Will RBI's plan of handing over responsibilities to external bodies gradually turn it into a jobless entity without any power or authority or will it ensure its better functioning?

Tell us!  your views.