A big development has been reported from the banking industry in India. A few days, UFBU had removed NOBO and NOBW from the association. UFBU and NOBO & NOBW imposed several allegations against each other. Now, IBA has invited UFBU and NOBO & NOBW seperately for meeting related to new PLI scheme.
The Indian Banks’ Association (IBA) has decided to hold a bilateral meeting with bank employees’ and officers’ unions on August 20, 2026, to discuss the Performance Linked Incentive Scheme (PLI).
IBA has asked bank unions to join the meeting for discussion on the new PLI Scheme. The meeting will be held on Thursday, August 20, 2026, from 11:00 AM onwards. The venue will be the Committee Room of the Indian Banks’ Association, 6th Floor, Centre 1 Building, World Trade Centre (WTC), Cuffe Parade, Mumbai.
NOBO & NOBW and UFBU have been invited separately but the timings of meetings are same. This means the meeting will be held at a single time with all the union members. It would be interesting to know how the meeting progresses on 20 August.
Banks have paid PLI to MDs and EDs, but the PLI of officers in scale 4, 5, 6, 7 is kept on hold. AIBOC has also filed a writ petition in Delhi High Court against the new PLI scheme. In the latest meeting between the bank unions and IBA a few weeks ago, it was decided to hold a meeting to discuss the new PLI scheme.
The upcoming meeting is important for bank employees and officers as discussions on the PLI scheme could have a direct impact on performance-linked payments and related matters. Bank Employees are protesting against the new PLI scheme as the new scheme provides almost double the salary to senior bank executives.
The major issue of protest is that the senior executives are being paid PLI up to 365 days of basic pay. They will get double salary, whereas officers up to Scale III will be paid PLI up to 15 days of basic pay only. This is a huge difference. Officers up to Scale III will be paid PLI up to Rs.50,000 approximately, whereas from Scale IV onwards, officers will be paid PLI ranging from Rs.10 lacs to Rs.20 lacs.
