This PSU Bank pays PLI to MD and EDs as per new DFS PLI Scheme

In accordance with the new PLI program launched by DFS, Ministry of Finance, Government of India, Bank of Baroda has paid PLI to MDs and EDs. The government and bank unions are engaged in a cold war over the new PLI program. 

UFBU has threatened a flash strike and declared its opposition to the new PLI plan. However, the PLI has been credited to MD&EDs by the Bank of Baroda, and it will shortly be awarded to other senior executives (Scale IV and above).

On social media, users have posted a screenshot of the PLI payment. The screenshot serves as evidence of the PLI payment made to MD&EDs.

The MD and Executive Directors received the following PLI amount:Shri Debadatta Chand, MD & CEO, received ₹16,15,680. Shri Lalit Tyagi, Executive Director, received ₹16,12,800. Shri Sanjay Vinayak Mudaliar, Executive Director, received ₹16,12,800, while Shri Lal Singh, Executive Director, received ₹16,12,800. Smt Beena Vaheed, Executive Director, received ₹10,40,516.40.

Another update is that the Punjab National Bank (PNB) board has authorized senior executives to get PLI in accordance with the new PLI scheme that the DFS, Ministry of Finance, Government of India, implemented. Shri Krishna Kumar, the General Secretary of AIPNBOF, affirmed this. All of the bank's senior executives will eventually receive credit for the PLI.