Centre revises PLI scheme for directors, senior executives of PSBs

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Centre revises PLI scheme for directors, senior executives of PSBs - Business Standard

Quick Summary:

The eligibility of banks for the scheme will be assessed by a government-appointed committee on the basis of four parameters, including that Return on Assets (RoA) should be positive and lower net non-performing assets (NPA).

The government has introduced a revised performance-linked incentive scheme for senior executives of public sector banks, including return on assets and NPA levels among parameters.

In a circular, the finance ministry said the scheme, which aims to provide to suitably reward and motivate employees for significant value creation for various stakeholders, will be effective from financial year 2023-24.