PSB PLI scheme deferred amid employee concerns

NEW DELHI: The Centre has deferred implementation of Performance Linked Incentive or PLI scheme for public sector banks (PSBs) for FY26 amid concerns raised by employees. The finance ministry said in a statement Monday it has taken cognisance of the concerns and decided to keep the implementation in abeyance in response to the employee representation on the PLI structure. The matter will now be discussed during the ongoing bipartite settlement or joint note discussions, it said. "The government is committed to resolving issues through dialogue, consultation and mutual understanding in the larger interest of bank employees , customers and the banking sector ," the ministry said. Also Read: Economic growth & quality of life must go hand in hand: Piyush Goyal Earlier in the day, finance minister Nirmala Sitharaman met with a delegation of bank employees representing various PSBs led by the Bharatiya Mazdoor Sangh. Also Read: FM Nirmala Sitharaman reviews BRICS Finance Track outcomes ahead of Mumbai meet The ministry said, in the statement, that the delegation raised various issues relating to the banking sector, including review of ex-gratia, medical facilities for retired employees, revisiting the present structure of the PLI scheme applicable for bank staff, and other concerns related to employees. -