AIBOC has filed a writ petition in Delhi High Court against the new PLI scheme

AIBOC has filed a writ petition in Delhi High Court against the new PLI scheme for banks introduced by the Government of India. The petition has been filed under Articles 226 and 227 of the Constitution of India. It challenges certain actions related to the Performance Linked Incentive (PLI) scheme. According to the notice, the case will be listed for hearing on 30 March 2026 at 10:30 AM, or shortly after that, depending on the court’s schedule. The petitioners are being represented by a team of lawyers, including Rajiv Agarwal, Meghna De, L. Gangmei, and N. Bhushan.

The petition has been filed by AIBOC, AIBEA and NCBE. UFBU has 9 constituents – AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO. Out of 9, only three unions have filed the petition against the new PLI scheme.

Important Points of Writ Petition

• The writ petition has been filed against the new PLI scheme dated 19.11.2024 in violation of Bipartite Settlement dated 08.03.2024.
• The impugned PLI Scheme is arbitrary, discriminatory, and violative of Article 14, 16, and 21 of the Constitution of India.
• The matter is pending with CLC, still the Government has asked banks to credit PLI to senior executives.
• A PLI agreement was signed in Bipartite Settlement for all officers – Scale I to Scale VII but the PLI has been modified unilaterally
• During the signing of Bipartite Settlement, it was decided that the PLI scheme introduced under the 11th Bipartite Settlement and the 8th Joint Note dated 11.11.2020 will continue. But the Government ignored this settlement.
• Petitioners have request court to issue a writ of certiorari or a writ of similar nature quashing the new PLI scheme till the conclusion of the conciliation proceedings and issue a writ of mandamus or a writ of similar nature directing Govt to maintain status quo and pass order in favour of petitioners

PLI in PSU A 90s failed model -pushed in 2026 ,

A 90s failed model -pushed in 2026 ,

Many companies have already dropped it due to forced exclusion.

Now the division is clear: Even among Executives,

Top 20% get 100%

Bottom 20% get 0%

Flash strike is inevitable to save PSBs from these clowns.

#UFBU #plidiscrimination

EXPECTED DA FOR BANKER FROM MAY 2026 -WE WILL UPDATE AGAIN ON 30.03.2026

Expected DA Calculation Updated on 27.02.26 on the basis of CPI for the month of Jan'26 with the assumptions of CPI for Feb. & Mar'26. The CPI for the month of Jan'26 announced on 27.02.26 as 148.6 with an increase of 0.40 points from Dec'25. (as per revised base year 2016) (The base year was changed from Oct 2020)

1. Keeping in view of recent CPI announced , we may assume there would be an increase in CPI index by 0.50 points in the next both months. Accordingly, on this assumption, we may expect there would be an increase of 1.07% DA in terms of 12^th BPS on revised pay. Total 26.07% DA will become payable from May'26.
2. On assumptions if there is an increase in CPI index by 0.40 points in the next both months, we may expect there would be be an increase of 0.97% DA in terms of 12^th BPS on revised pay. Total 25.97 percentage of DA will become payable from May'26.
3. On assumptions if there is an increase in CPI index by 0.30 points in the next boths months, we may expect there would be be an increase of 0.87% DA in terms of 12^th BPS on revised pay. Total 25.87 percentage of DA will become payable from May'26.

Big Home Loan Fraud in Central Bank of India, 10 People convicted by CBI

A special CBI Court in Mumbai on Tuesday convicted a retired bank manager and nine others in a 2004 home loan fraud case. The court gave prison sentences ranging from one year to five years.

Brothers Kashinath Jadhav and Ganesh Pandurang Jadhav were the main accused in the case. The court sentenced them to five years in jail. Former bank official Metha Sastry was given one year of imprisonment under the Prevention of Corruption Act.

Sastry was a senior manager at the Central Bank of India branch in Prabhadevi, Mumbai. The court said he failed to carry out required checks before and after sanctioning the loans. If these checks had been done, the fraud could have been detected earlier.

Another bank official, Narain Mathur, who was a chief manager, died during the 20-year trial. So, the charges against him were closed.

According to the prosecution, the accused used 17 fake sale agreements to apply for housing loans. They claimed that they were buying flats from Shreeram Sthapatya Construction in Spring Field Apartment in Vasai. However, in reality, no flats were purchased.

The Jadhav brothers also opened fake bank accounts in the name of the construction company at Punjab National Bank.

After the loans were approved by the Central Bank of India, the cheque payments were wrongly deposited into these fake accounts instead of going to the real builder. The money was then quickly withdrawn.

The Central Bureau of Investigation (CBI) said that bank officials did not properly verify the loan applicants, the purpose of the loan, or the documents. Loans worth ₹67.70 lakh were given, out of which ₹48.63 lakh remained unpaid

CBI Registers Rs 61.13 Crore Bank Fraud Case Against Laxmiroop Pvt Ltd

The Central Bureau of Investigation has registered a case against a metal company in a ₹61.13 crore bank fraud case. The company allegedly failed to repay loans taken from a group of banks led by Union Bank of India. It is also accused of using the loan money for purposes that were not approved.

The company, Laxmiroop Pvt Ltd, is based in Chhattisgarh. Its transactions with the banks between 2023 and 2025 are now under investigation. The group of banks also includes Federal Bank.

Due to non-payment of loans, the company’s account was declared a Non-Performing Asset (NPA) on February 26, 2025, by Union Bank of India. Later, Federal Bank reported the account as “fraud” to the Reserve Bank of India on June 16, 2025. Union Bank of India also reported it as fraud on September 23, 2025.

The FIR in this case was registered by the Mumbai unit of the Central Bureau of Investigation on February 13. It was based on a complaint filed by a Deputy General Manager of Union Bank of India. The case has been registered under sections related to criminal conspiracy, cheating, and misconduct under the Indian Penal Code and the Prevention of Corruption Act.

Call for flash strike by UFBU on PLI issue

THE PLI AMOUNT PAID TO MD & EDS OF DIFFERENT PUBLIC SECTOR BANK

PNB

MD&EDs will be paid Rs.1,00,67,530.31 as PLI. The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri Atul Kumar Goel	Former MD & CEO	16,15,680.00
2	Shri Ashok Chandra	MD & CEO	4,51,695.48
3	Shri Kalyan Kumar	Former ED	19,53,600.00
4	Shri Binod Kumar	Former ED	16,99,509.67
5	Shri M. Paramasivam	ED	21,50,400.00
6	Shri Bibhu Prasad Mahapatra	ED	21,50,400.00
7	Shri D Surendran	ED	46,245.16

The Government has ordered Punjab National Bank to pay PLI to officers from Scale IV to Scale VIII as per the revised PLI guidelines issued by DFS, Ministry of Finance.

SBI

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri Dinesh Khara	Former Chairman	10,95,968.00
2	Shri C S Setty	Chairman	16,04,032.00
3	Shri C S Setty	Former MD	10,93,045.00
4	Shri Ashwini Kumar Tiwari	MD	26,92,800.00
5	Shri Vinay M. Tonse	Former MD	26,73,300.00
6	Shri Alok Kumar Choudhary	Former MD	6,73,200.00
7	Shri Rana Ashutosh Kumar Singh	MD	17,51,768.00
8	Shri Rama Mohan Rao Amara	MD	7,74,542.00

BOB

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI amount to be paid
1	Shri Debadatta Chand	MD & CEO	16,15,680.00
2	Shri Lalit Tyagi	ED	16,12,800.00
3	Shri Sanjay Vinayak Mudaliar	ED	16,12,800.00
4	Shri Lal Singh	ED	16,12,800.00
5	Smt Beena Vaheed	ED	10,40,516.40

INDIAN BANK

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri S. L. Jain	Former MD & CEO	16,00,080.00
2	Shri Binod Kumar	MD & CEO	4,51,695.48
3	Shri Mahesh Kumar Bajaj	Former ED	17,87,760.00
4	Shri Ashutosh Choudhary	ED	21,50,400.00
5	Shri Shiv Bajrang Singh	ED	21,50,400.00
6	Shri Brajesh Kumar Singh	ED	21,03,600.00