The Punjab & Sind Bank has credited PLI to scale 4 and above officers as per the new PLI scheme introduced by Government of India.
The PLI was credited on 21 August 2026 late evening and unions had no idea of it. The bank management unilaterally credited the PLI without even informing the bank unions.
What’s more surprising is that a meeting was held between UFBU and IBA on 20 August 2026 regarding the new PLI scheme and in that meeting , UFBU had rejected the new PLI scheme. But Punjab & Sind Bank still credited the PLI.
Moreover, AIBOC had filed a case in Delhi High Court against the new PLI scheme. This case is still under consideration but PLI has been credited.
Most of the Bank Employees are not happy with this. Bankers are saying – Unions have failed badly. Unions never announced strike against new PLI scheme. They just filed a court case and waited for the outcome. It seems they are just doing formalities and nothing else.
A lot of questions are running in the mind of Bank employees. If case is still under consideration and UFBU has rejected the new PLI scheme, then, why the Bank has credited the PLI.
The new PLI scheme has been under controversy since the introduction. The new scheme provides PLI upto Rs.20 lacs to senior officers of the bank. If the basic pay of senior officers is Rs.10 lacs then the bank will pay PLI upto Rs.10 lacs to senior officers. This means, senior officers will get almost double salary.
But the same PLI formula does not apply to officers upto Scale 3. Officers upto Scale 3 will get PLI only upto Rs.50,000. Bankers are calling this discriminatory as most of the work in banks is done by scale 1 to scale 3 officers whereas Scale 4 and above officers work mainly in controlling offices.
It would be interesting to watch how UFBU reacts to this incident and what future action is taken by the unions.
