CRITERIA FOR MAKING PAYMENT TO NON-EXECUTIVE DIRECTORS

All Non-Executive Directors of the Bank (except RBI Nominee Director) are being paid sitting fee for the Board /Committee Meetings attended by them @ Rs. 40,000 for each Board/Committee Meeting, apart from  reimbursement of Boarding/Lodging expenses for attending Board/Committee Meetings.

In addition to above, all Non-Executive Directors (except RBI Nominee Director) are entitled to profit related compensation to the extent of one percent of the profits of the Bank for the relevant financial year, subject to a maximum of Rs 10 Lakhs per annum per Director.

The details of payment made to the Non-Executive Directors in a Financial Year are available in the respective Annual Reports of the Bank.

                Name of the Program

Conducted by

Director(s) attending the Program

Date of Program

Conference of Heads/Members of Audit Committee of Boards of Bank to effectively play their role and enhance Governance Standards

Center for Advanced Financial Research & Learning – RBI Initiative

Mr. Rakesh Kumar Gupta
(Chairman – ACB)

5th November, 2012

Program for Independent Directors

The Institute for Development & Research in Banking Technology

Dr. Nissar Ali
(Non Executive Director)
Mr. Vikrant Kuthiala
(Non Executive Independent Director)

18-19th Feb. 2013