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What will be the Financial Impact of new PLI Scheme on Banks?

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The Government of India has launched a new PLI Scheme for senior officers of Banks (scale IV and above). As per the new PLI scheme senior officers will be paid incentive almost equal to their salary.

Let’s have a look at how much financial impact the new PLI scheme will have on the banks.

Total Employees in Bank7,58,172
Officers (50%)3,79,086
Clerks (35%)2,65,360
Sub-Staff (15%)1,13,725

If we take only 1.5% as officers from scale IV and above, the total number comes to 5686. Scale IV officers will get around Rs.10 lacs as PLI. If we consider this amount only for all officers, then the total amount comes to Rs.586 crore. This is the minimum PLI amount that will be paid to senior officers. The actual amount will be much more as Scale V and above officers will get more PLI amount. This is just an approximate number and actual figures may vary.

Related:  Bank of Baroda to credit PLI for Scale IV and Above, Know How much PLI will be paid to MD&ED

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Hellobanker Team

Hellobanker.in is India's leading banking and finance news portal. Our expert team covers banking policies, RBI updates, financial markets, and investment insights.
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