RBI strikes day after rate cut

An employee strike at the Reserve Bank of India shut down trading on the Mumbai bond exchange on Tuesday.

An estimated 25,000 employees of the central bank went on strike over a dispute regarding pensions.

The strike came at a very difficult time for traders - a day after the central bank cut interest rates for the first since 2004 - who were hoping to trade on expectations of further rate cuts, as the Indian economy feels the heat from slowing global demand.

The strike, which involves 20 regi