Govt defers PSB executive PLI scheme after employee delegation meets FM
Centre keeps PSB Performance Linked Incentive scheme in abeyance after Bharatiya Mazdoor Sangh-led delegation raises concerns with Finance Minister.
The Union Finance Minister has agreed to put on hold the implementation of the Performance Linked Incentive (PLI) scheme for executives of Public Sector Banks (PSBs) for the financial year 2025-26, following a meeting with a delegation of bank employees.
The delegation, led by the Bharatiya Mazdoor Sangh, represented employees from various PSBs. During the discussions, the members raised a range of issues concerning the banking workforce, including a demand for a review of ex-gratia payments, better medical facilities for retired employees, and a reconsideration of the existing PLI structure.
Taking note of the concerns, the government decided to keep the PLI scheme, which was notified on 19 November 2024, in abeyance. The matter will now be taken up during the ongoing Bipartite Settlement and Joint Note discussions between the management and employee unions.
The Finance Minister reiterated the government's commitment to resolving such matters through dialogue, consultation, and mutual understanding, keeping in view the interests of bank employees, customers, and the broader banking sector.