Finance Minister Nirmala Sitharaman on Monday met a delegation of bank employees representing various public sector banks (PSBs) and decided to keep in abeyance the implementation of the Performance Linked Incentive (PLI) Scheme for the financial year 2025-26 following concerns raised by employees.
The delegation, led by the Bharatiya Mazdoor Sangh, raised several issues related to the banking sector, including a review of ex-gratia, medical facilities for retired employees and changes to the existing PLI structure for PSB employees.
Taking note of the employees’ concerns, the Minister decided to keep in abeyance the implementation of the PLI Scheme dated November 19, 2024, for FY 2025-26.
The matter will now be taken up during the ongoing Bipartite Settlement/Joint Note discussions, according to the Ministry of Finance.
The delegation also raised other employee-related concerns during the meeting.
The Ministry said that the government is committed to resolve issues through dialogue, consultation and mutual understanding in the larger interest of bank employees, customers and the banking sector.
