The government has decided to keep in abeyance the implementation of the performance-linked incentive (PLI) scheme for employees of public sector banks (PSBs) for 2025-26 following a representation by bank employees seeking a review of its existing structure.
Finance Minister Nirmala Sitharaman met a delegation of bank employees representing different PSBs, led by the Bharatiya Mazdoor Sangh, which raised several issues concerning the banking sector and employees, the finance ministry said in a statement on Monday.
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The delegation sought, among other things, a review of ex-gratia, medical facilities for retired employees and changes in the existing PLI structure applicable to PSB employees, it said.
The decision comes ahead of nationwide bank strike call given by UFBU pressing for various issues, including PLI scheme.
Taking cognisance of the concerns raised, it was decided to keep in abeyance the implementation of the PLI Scheme dated November 19, 2024, for 2025-26, it said.
The government will take up the matter during the ongoing bipartite settlement/joint note discussions, it added.
The government reiterated its commitment to resolving issues through dialogue, consultation and mutual understanding in the larger interest of bank employees, customers and the banking sector.
It is to be noted that the United Forum of Bank Unions minus BMS affiliates last month decided to go a nationwide strike on September 11 over the delay in implementing five-day banking, differences over the performance-linked incentive scheme, and several pending demands, including pension-related issues.
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Bank unions have objected to the government's PLI scheme for bank officers in Scale IV and above, saying it differs from the understanding reached with the IBA that performance-linked incentive would be linked to the overall performance of individual banks and would be uniform for employees and officers up to Scale VII.
Under the government's scheme, officers in Scale IV and above could receive PLI of up to 365 days of basic pay based on individual performance, while workmen employees and officers up to Scale III would receive a maximum of 15 days' basic pay plus dearness allowance.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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