Criteria for Payment of Remuneration to Non Executive Directors

 

CRITERIA FOR MAKING PAYMENT TO NON-EXECUTIVE DIRECTORS

The Non-Executive Directors of the Bank including Part Time Chairman (except Directors who are in the employment of Govt.) were paid sitting fee of Rs. 40,000 (Rupees Forty Thousand Only) for each Board/Committee Meeting attended by them, apart from reimbursement of Boarding/Lodging/travelling expenses for attending Board/Committee Meetings. 

In addition to the above, the Non-Executive Directors (except Part Time Chairman, Directors who are in the employment of Govt. and the RBI appointed additional Director) were paid fixed remuneration subject to maximum of Rs.10,00,000 (Rupees Ten Lakhs Only) per annum per Director for the relevant financial year in line with the RBI Guidelines.

Further, as approved by the RBI, Mr. Sankarasubramanian Krishnan, Part Time Chairman and Independent Director of the Bank, was entitled to a fixed remuneration of Rs.15,00,000 (Rupees Fifteen Lakhs Only) from November 13, 2025 i.e. the date of his appointment as PTC of the Bank.