Government pauses PLI for senior public-sector bank executives, unions protest
Business
The government has paused performance-linked incentives (PLI) for senior public-sector bank executives this year, saying the scheme will be reviewed in ongoing wage talks.
Unions aren't happy. They've argued the PLI is unfair to lower-level staff and want changes.
Bank unions call September 11 strike
Bank unions have called a nationwide strike on September 11, demanding a revamp of the PLI scheme, a five-day work week, and better pension terms.
If nothing changes, they're planning more strikes later this month and could go on an indefinite strike from October 26.
Talks with the Indian Banks's Association haven't resolved things yet, so it's a tense standoff for now.