Govt orders PNB to credit PLI for Scale IV and Above, MD&EDs will be paid over Rs.1 crore PLI
The Government of India, through the Ministry of Finance, has approved the Performance Linked Incentive (PLI) for Whole-Time Directors (WTDs) of Punjab National Bank (PNB) for the financial year 2024-25. The decision was communicated by the Department of Financial Services in an official letter dated March 18, 2026.
MD&EDs will be paid Rs.1,00,67,530.31 as PLI. The PLI Amount that will be paid to MD&EDs is as follows:
| S. No. | Name of the WTD | Designation | PLI Amount (₹) |
|---|---|---|---|
| 1 | Shri Atul Kumar Goel | Former MD & CEO | 16,15,680.00 |
| 2 | Shri Ashok Chandra | MD & CEO | 4,51,695.48 |
| 3 | Shri Kalyan Kumar | Former ED | 19,53,600.00 |
| 4 | Shri Binod Kumar | Former ED | 16,99,509.67 |
| 5 | Shri M. Paramasivam | ED | 21,50,400.00 |
| 6 | Shri Bibhu Prasad Mahapatra | ED | 21,50,400.00 |
| 7 | Shri D Surendran | ED | 46,245.16 |
The Government has ordered Punjab National Bank to pay PLI to officers from Scale IV to Scale VIII as per the revised PLI guidelines issued by DFS, Ministry of Finance.
A few days ago, a meeting was held between the bank unions and the government to discuss on the issue of PLI. It was said that the discussions will be held and PLI will be provided proportionately to all officers. But such a letter from DFS has raised questions about the meeting and the discussions held.
The Government has introduced a new PLI model for senior officers of bank starting from Scale IV. Under this new PLI model, Scale IV and above officers will get almost double salary. Let’s understand with the help of an example. Suppose the salary of a scale 1 officer is Rs.10 lakh annually, Salary of scale 2 officer is Rs.12 lakh annually, Salary of scale 3 officer is Rs.15 lakh annually, Salary of scale 4 office officer is Rs.20 lakh annually, Salary of scale 5 officer is Rs.25 lakh annually, Salary of scale 6 officer is Rs.30 lakh annually, Salary of scale 7 officer is Rs.35 lakh annually, Salary of scale 8 officer is Rs.40 lakh annually, Salary of ED is Rs.50 lakh annually and Salary of MD is Rs.55 lakh annually. Salary of officers is taken as an approximate value just for explaining the PLI. Actual salary may vary.
Now officers from Scale 1 to Scale 3 will get PLI of only 15 days. This means that they will get salary of just 15 days. Scale 1 will get Rs.41,000 as PLI. Scale 2 will get Rs.50,000 as PLI. Scale 3 will get Rs.62,000 but Scale 4 will get double salary i.e. Rs.20 lakh as PLI. Scale 5 will get Rs.25 lakh as PLI. Scale 6 will get Rs.30 lakh as PLI. Scale 7 will get Rs.35 lakh as PLI. Scale 8 will get Rs.40 lakh as PLI. ED will get Rs.50 lakh as PLI. MD will get Rs.55 lakh as PLI.
Bankers have termed this model of PLI as discriminatory. Bankers say that maximum work in branches is done by scale 1 to scale 3 officers whereas scale 4 is mostly posted in controlling offices and scale 5 onwards are posted in circle office/ regional office/ zonal office/ head office.
New PLI Model for Senior Officers of Bank
- Scale IV officers can get 70% of their annual basic pay (approximately ₹11.75 lakh per year).
- Scale V and VI officers can get 80% of their annual basic pay (approximately ₹14.40 lakh per year).
- Scale VII officers can get 90% of their annual basic pay (approximately ₹22.50 lakh per year).
- EDs and MDs of Nationalised Banks, DMDs, MDs, and Chairman of SBI can get PLI up to 100% of their annual basic pay
| Grade | PLI Ceiling as % of Annual Basic Pay |
|---|---|
| EDs and MDs of Nationalised Banks, DMDs, MDs, and Chairman of SBI | 100% |
| Scale VII and Scale VIII | 90% |
| Scale V and Scale VI | 80% |
| Scale IV | 70% |
