Top bosses at India’s leading private banks got only small increases in their salaries for the financial year 2024-25. This is because the Reserve Bank of India (RBI) keeps a close check on how much CEOs are paid. Any changes to their salaries, bonuses, or stock options must get approval from the RBI to make sure things stay fair and transparent.
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Here’s what some of the top bank CEOs earned in FY25:
Sashidhar Jagdishan – HDFC Bank CEO
He was the highest-paid banker in India, earning over Rs 12 crore, a 12% increase from last year. He also received 2,12,052 stock options (ESOPs) worth over Rs 42 crore based on the current market price.
Ashok Vaswani – Kotak Mahindra Bank CEO
He earned a total of Rs 13 crore and received 18,580 stock options worth more than Rs 4 crore.
Amitabh Chaudhry – Axis Bank CEO
His salary was Rs 9.11 crore, which was 5.4% less than last year. However, he received 2,59,429 stock options valued at over Rs 30 crore.
V Vaidyanathan – IDFC First Bank CEO
He earned Rs 5.54 crore, a 4.5% increase from last year. He also got more than 24,20,626 stock options worth around Rs 18 crore.
Sandeep Bakhshi – ICICI Bank CEO
He received Rs 9.96 crore in FY24, but his earnings for FY25 are not yet available.
HDFC Bank’s CEO leads the list in terms of fixed salary, but other bank heads have received large amounts in stock options too. Despite the high figures, the RBI is making sure that all CEO pay is carefully monitored and approved.
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