Bank unions protest for PLI resolution with a broken "PLI" symbol and prominent "UFBU" signage.
Bank employee and officer unions in India are demanding an immediate resolution to an impasse regarding Performance Linked Incentives (PLI). The United Forum of Bank Unions (UFBU) has voiced concerns over a revised PLI formula proposed by the Department of Financial Services (DFS).
The UFBU views the revised formula as a unilateral departure from the existing settlement-based PLI scheme. This scheme was developed through bilateral discussions and incorporated into the bipartite settlement/joint note framework.
The unions are advocating for a return to the previously agreed-upon PLI structure to maintain consistency and avoid what they perceive as divisive changes to employee compensation.
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