New Delhi: The remuneration of HDFC Bank managing director Aditya Puri was Rs 9.64 crore for FY 2018, as per the bank’s annual report for 2017-18.
Puri has liquidated stock options worth Rs 31.4 crore during the year and out of the total remuneration in FY18, Puri’s gross salary was Rs 7.26 crore making his average total earnings per day to Rs 2.64 lakh per day.
This is in contrast with his last year's Rs 2.75 lakh per day salary as the Bank's chief is reported to have taken a 10.5 percent reduction in his basic salary for the financial year 2017-18, a Money Control report said.
Interestingly, SBI, one of the world's 50 largest banks, pays only a small fraction to its top management as compared to private sector players. SBI's current chairman and managing director Rajnish Kumar drew a gross salary of Rs 14.25 lakh for six months since taking over as the bank chief in 2017-18. He replaced Arundhati Bhattacharya in October last year. Kumar's remuneration consisted of basic salary of Rs 13.48 lakh and a dearness allowance of Rs 73,968 and other component of Rs 3,000, according to SBI annual report for 2017-18.
Puri saw his remuneration rise marginally to Rs10 crore and exercised stock options worth over Rs57 crore during 2016-17. However, during the same fiscal SBI Chairman Arundhati Bhattacharya took home Rs 28.96 lakh, which is pittance when compared to remuneration of her counterparts in private banks receive.
In comparison, ICICI Bank MD and CEO Chanda Kochhar received a basic salary of Rs 2.66 crore besides Rs 2.2 crore performance bonus to be paid over the next few years. In addition, she received allowances and perquisites of over Rs 2.43 crore. The total compensation received by Kochhar in FY17 stood at Rs 6.09 crore.
Similarly, Shikha Sharma, MD and CEO of Axis Bank, took home a basic salary of Rs 2.7 crore, and Rs 1.35 crore as variable pay, besides host of perks and allowances like Rs 90 lakh HRA.
Yes Bank MD and CEO Rana Kapoor, who also happens to be promoter of the bank, took home Rs 6.8 crore as salary in 2016-17.
With Agency Inputs