The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for over 1,140,000 railway employees. Briefing the media after the Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said the government has allocated over 2,009 crore rupees for this payout. The maximum bonus amount payable per eligible employee is 17, 951 for 78 days. It covers Group C railway personnel, including track maintainers, loco pilots, train managers (guards), station masters, supervisors, technicians, pointsmen, and ministerial staff. 

 

Cabinet has also approved the continuation of the National Social Assistance Programme (NSAP) for five years, covering the period from 2026-27 to 2030-31 with a total budget of 53 thousand 428 crore rupees. The programme is being renamed as the Pradhan Mantri Samajik Sahayata Yojana. A total of 3.20 crore beneficiaries across all 36 States and Union Territories will benefit from this social security net expansion.

 

The Cabinet Committee on Economic Affairs (CCEA) has approved strategic restructuring of IDBI Bank. It was decided that 60.72% of the equity stake in IDBI Bank will be sold to a strategic buyer. Canada-based Fairfax Financial Holdings Ltd has been selected as the strategic buyer. Fairfax will acquire a controlling 60.72% stake in the bank for a total purchase consideration of over 52,878 crore rupees.