Union Finance Minister met with a delegation of bank employees representing different Public Sector Banks (PSBs) led by the Bharatiya Mazdoor Sangh on September 7, 2026. The delegation raised multiple concerns regarding the banking sector, specifically requesting review of ex-gratia payments, medical facilities for retired employees, and revisiting the current structure of the Performance Linked Incentive (PLI) Scheme applicable for PSB employees.
In response to the representations received about the PLI structure, the government decided to keep in abeyance the implementation of the PLI Scheme dated November 19, 2024 for fiscal year 2025-26. The scheme will instead be taken up for discussion during the ongoing Bipartite Settlement and Joint Note negotiations between management and employee representatives.
The government emphasized its commitment to resolving issues through dialogue, consultation, and mutual understanding in the larger interest of bank employees, customers, and the banking sector as a whole.