The counters in the banking hall of a state-owned bank in India. (Photographer: Sondeep Shankar/Bloomberg News.)
Top managements at India’s public sector lenders are nudging employees to step up subscriptions to recently introduced employee stock option schemes, in an attempt to prove the success of a rare structural reform in this segment of banking. The nudge, which could have been justified as a way to familiarise employees with the newly introduced incentives, has turned into a push, with many employees feeling pressured to subscribe to the...