Highest Salary Of Bank Top Managment
Bankers' pay is always a hot topic of discussion the world over.
In India, the Reserve Bank of India has always been keeping an eye not only on banks' operations, but also on pay structures.
Still, private banks have been rewarding their executives while their pubic sector peers have been treated like government servants. Shilpy Sinha takes a look at the pay that the private sector spoilt its executives with, based on annual reports.
Paresh Sukthankar, deputy managing director of HDFC Bank and V Srinivasan, executive director at Axis Bank, top the list of senior bankers who got big pay increases last year.
Sukthankar, the man believed to be behind the conservative practices of the bank, saw his emoluments that he took home doubled last year, going up to Rs 5.2 crore, filings show. But the number includes, the arrears for previous year and probably bonus paid to him after a lag due to delay in regulatory approvals. Stripping off the one-time effect, the increase for Sukthankar is 25%.
At ICICI Bank, executive director NS Kannan got the biggest increase among the top executives. Kannan's salary rose 15.2% to Rs 4.07 crore, as compared to chief executive Chanda Kochhar's 12% raise to Rs 5.85 crore.