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RBI annual report | Coming soon: ‘Work-from-anywhere’ policy for business continuity – Moneycontrol

The coronavirus pandemic forced the Indian central bank to act quickly to ensure there were no disruptions in the functioning of the banking, financial market, and payment systems. It is now looking to provide more flexibility to its staff.

The Reserve Bank of India (RBI) is often accused of being behind the curve when it comes to monetary policy but the central bank is looking to stay abreast of private organisations when it comes to the workplace.

As part of its agenda for FY23, the RBI will devise a policy on “working from anywhere” for its staff to ensure a “seamless work environment as part of business continuity planning”, according to the central bank’s report for FY22 released on May 27.

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After the coronavirus pandemic hit India in early 2020, the RBI was forced to take quick action to ensure it could carry out its key responsibilities, including continuity in banking, financial market, and payment systems operations.

In addition to a special quarantine facility set up for around 250 staff and service providers, an arrangement was arrived at with Apollo Hospitals for hotel rooms in certain cities to act as quarantine centres for COVID-19 cases. Work-from-home was operationalised.

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As of March 31, 98 percent of the RBI’s 12,782 staff members were fully vaccinated against COVID-19.

In addition to a new “working from anywhere” policy, the central bank will also set up an “employee assistance programme” on wellness-related matters.

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The RBI’s sub-committee on human resource management was its only committee or sub-committee that did not meet at all in FY22. It had met twice in the previous financial year.

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Siddharth Upasani