The United Forum of Bank Unions (UFBU) has received a massive response to its nationwide agitation against the “unilateral” imposition of a revised Performance Linked Incentive (PLI) scheme by the department of financial services (DFS).
In a press release, UFBU informed that from branches to administrative offices across the country, bank employees and officers participated spontaneously with unity and determination, reflecting strong opposition to the new PLI formula.
UFBU stated that the revised PLI scheme was viewed as a unilateral and divisive move that deviated from the existing settlement-based PLI, which was evolved through bilateral discussions and incorporated in the bipartite settlement/joint note.
The forum said that the current scheme was uniform and linked to the collective performance of the bank. However, it said the new formula seeks to introduce differentiation and individual evaluation, particularly separating officers in Scale IV and above, thereby disturbing long-settled service conditions and industrial relations.
The forum also pointed out that the issue was currently under conciliation before the chief labour commissioner (central). Despite this, the forum said DFS and some bank managements were attempting to implement the revised scheme, which UFBU termed as unacceptable and prejudicial to industrial peace.
The forum said it has already sought urgent intervention from the chief labour commissioner, stating that such unilateral action during conciliation violated the spirit of industrial relations and Section 33 of the Industrial Disputes Act.
UFBU has warned that the new PLI formula threatened the unity of the banking workforce, weakened teamwork, and undermined the collective bargaining process.
The forum urged the department of financial services, Indian Banks’ Association (IBA), and all public sector bank managements to immediately keep the unilateral steps in abeyance, respect the ongoing conciliation process, and resolve the matter through meaningful dialogue and negotiated settlement.
It also sought urgent intervention of the chief labour commissioner in the interest of industrial harmony. UFBU cautioned that failure to take corrective steps would force further agitation, with the responsibility for any resulting industrial unrest resting on those pushing the divisive scheme.
