HDFC Bank MD Aditya Puri highest paid bank CEO; Axis Bank CEO Amitabh Chaudhry at second position

During FY18, Puri took home nearly Rs 9.65 crore, less than Rs 10.05 crore in the previous year, according to the bank's annual report.

FP Staff August 13, 2019 15:52:10 IST
HDFC Bank MD Aditya Puri highest paid bank CEO; Axis Bank CEO Amitabh Chaudhry at second position
  • Puri has a monthly basic pay of Rs 89 lakh while Chaudhry is earning a basic monthly salary of Rs 30 lakh

  • Kotak Mahindra Bank’s Uday Kotak is at the third position with a monthly basic salary of Rs 27 lakh

  • In February, RBI proposed new compensation norms for top officials of private, foreign banks

HDFC Bank managing director Aditya Puri was the highest-paid bank chief executive in the country followed by Axis Bank CEO Amitabh Chaudhry during the financial year 2019, said a media report.

Puri, who led the bank since its inception 25 years ago, has a monthly basic pay of Rs 89 lakh while Chaudhry, who took over the position in January, is earning a basic monthly salary of Rs 30 lakh, said a report in The Economic Times.

Kotak Mahindra Bank’s Uday Kotak is at the third position with a monthly basic salary of Rs 27 lakh and ICICI Bank’s former boss Chanda Kochhar was the fourth highest-paid bank CEO at Rs 26 lakh per month till her exit from the bank, said the report.

HDFC Bank MD Aditya Puri highest paid bank CEO Axis Bank CEO Amitabh Chaudhry at second position

File image of Aditya Puri. News18

During FY18, Puri took home nearly Rs 9.65 crore, less than Rs 10.05 crore in the previous year, according to the bank's annual report. He exercised stock options worth over Rs 31.41 crore in 2017-18 against Rs 57.42 crore worth of stock options in 2016-17, the report showed.

 

In February this year, the Reserve Bank of India (RBI) had proposed that at least 50 percent of the compensation of senior officials of private and foreign banks, including full-time directors and chief executive officers, "should be variable".

A discussion paper on proposed guidelines for compensation of whole-time directors/chief executive officers/material risk takers and control function staff issued by the central bank also said ESOPs should be included as a component of variable pay.

In January 2012, the Reserve Bank had issued the compensation guidelines for implementation by the private sector and foreign banks from the financial year 2012-13.

With PTI inputs

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

2020 in review: Key policy initiatives in digital payments for 2021 and beyond
India

2020 in review: Key policy initiatives in digital payments for 2021 and beyond

Overall, the RBI has shown a welcome range in its focus last year, from financial inclusion, promoting innovation to easing payments in the pandemic.

RBI open to examining proposals for 'bad banks', will issue regulatory guidelines, says Shaktikanta Das
India

RBI open to examining proposals for 'bad banks', will issue regulatory guidelines, says Shaktikanta Das

Speaking at an event on Saturday, the RBI chief said that the RBI would examine such a proposal in an effort to keep its regulatory framework 'in sync with the requirements of the times'