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CLC Directs IBA to Hold Implementation of PLI Scheme for Senior Officers
The Chief Labour Commissioner (CLC) has directed the Indian Banks’ Association (IBA) to hold the PLI scheme for senior officers following conciliation meetings, after the United Forum of Bank Unions (UFBU) sought its deferment through prior communication.
Author: Abhivad
Published: March 29, 2025
The Chief Labour Commissioner (CLC) has directed the Indian Banks’ Association (IBA) to hold the implementation of the Performance Linked Incentive (PLI) scheme for senior officers. The directive follows conciliation meetings held on 18 and 21 March 2025, during which the IBA committed to re-examining the performance-linked incentive scheme in consultation with the DFS.
The conciliation process, which included representatives from the United Forum of Bank Unions (UFBU) and IBA, led to the deferment of the two-day nationwide bank strike that UFBU had earlier announced. The strike was called off after the discussions resulted in an understanding on various concerns raised by the employees’ unions.
(The CLC directive along with the copy of the letter from UFBU.)
UFBU’s Demand for Deferment
Prior to the conciliation meetings, UFBU had written to IBA, demanding that the implementation of the PLI scheme for senior officers be deferred. The unions raised concerns about the potential impact of the scheme on officers and the lack of adequate consultation in its rollout.
The CLC’s latest directive aligns with the consensus reached during the conciliation proceedings. The letter issued by the CLC, a copy of which is attached along with UFBU’s earlier communication, instructs IBA to put the scheme on hold until further discussions are held.
Strike Deferred After Meetings
The UFBU, a coalition of multiple bank unions, had planned a two-day nationwide strike to protest against various issues, including the PLI scheme’s implementation. However, following discussions with the CLC and IBA, the union deferred its strike to allow further negotiations on unresolved matters.
A report by The Kanal detailed the grievances of bank employees and the circumstances that led to the postponement of the strike. According to the report, employees expressed frustration over several pending issues, leading to the initial strike call. However, the intervention of the CLC facilitated discussions that resulted in a temporary resolution.
Next Steps
The next hearing at the CLC office has been scheduled on 22 April 2025. The CLC has also directed the IBA to present a progress report before this meeting. The banking sector will be closely watching the developments as stakeholders seek a mutually acceptable resolution regarding the PLI scheme for senior officers.
However, the IBA has yet to issue an official statement on its next course of action in response to the CLC directive.