HDFC Banks’s Aditya Puri got Rs 13.82 crore salary in private banks in 2020-21

Mumbai : HDFC Bank’s Aditya Puri was the highest-paid executive among the top three private sector banks executives in the financial year 2020-21, the year of his retirement. His total earning was Rs 13.82 crore. Puri’s successor Shashidhar Jagadeesan received a salary of Rs 4.77 crore in the last financial year. Jagadeesan became the Chief Executive and Managing Director of HDFC Bank on October 27, 2020. This includes the pay he received till his promotion as Group Head. Puri’s earnings during the year include Rs 3.5 crore of retirement benefits.

In this period heavily affected by Kovid-19, Sandeep Bakshi, Managing Director and CEO of ICICI Bank has given up his fixed share of his basic and supplementary allowances for the financial year 2020-21. The bank gave this information in its annual report.

According to the report, however, Bakshi received allowances and perquisites of Rs 38.38 lakh. He also received performance bonus of Rs 63.60 lakh from ICICI Prudential Life Insurance Company in the form of delayed variable pay for FY 2016-17 and FY 2017-18.

Amitabh Choudhary, the head of Axis Bank, the third largest private sector bank, received Rs 6.52 crore in salary and allowances. The bank also said in its annual report that it did not make any salary increase in 2020-21 in the remuneration of its top management.

The salary allowance received by Jagdishan was 139 times the average salary of the employees of his bank, 104 times that of Choudhary and 96 times that of Bakshi of ICICI Bank.