The Reserve Bank of India (RBI) today said the mass casual leave announced by the United Forum of Reserve Bank Officers and Employees on 21 October is illegal and that ''such action on their part amounts to cessation of work and concerted refusal to work,''

''Apart from such action being uncalled for, in the absence of due notice, it amounts to an illegal strike,'' it warned.

The RBI also cautioned the public that the ''strike is likely to cause some disruption of normal work on that day, including the payment and settlement system.''

RBI said it would endeavor to maintain normal services, but advised the public to complete their transactions, if any, with the Reserve Bank on 20 October itself.

The United Forum of Reserve Bank officers and employees have threatened to go on a mass casual leave on Tuesday demanding, among other things, an upward revision of interest on provident fund, improvements in pension scheme and gratuity and revision of basic pension after every pay revision.
 
RBI issued the statement after a meeting between the employees and the RBI top management ended in a stalemate, with governor D Subbarao refusing to press for a withdrawal of the government's notification to stop revision of basic pension.

The planned strike, the first in the past 13 years, comes amidst a global financial upheavel that seems to push the Indian economy also into a slump.

The RBI has 26 offices across the country with around 21,500 employees.