HDFC Bank managing director and CEO Sashidhar Jagdishan continues to be the highest paid bank chief executive in India with an earning of Rs 10.77 crore in FY24, while his counterparts in public sector banks lagged far behind. A year ago, his annual remuneration was Rs 10.54 crore, reflecting a modest hike in salaries of other CEOs in banks during the same period.  

ICICI Bank CEO Sandeep Bakhshi was the second-highest paid, taking home Rs 9.96 crore in the same financial year. In the year-ago period, his remuneration stood at Rs 9.57 crore.

Axis Bank boss Amitabh Chaudhry followed to take the third spot at Rs 9.64 crore in FY24. His remuneration actually saw a fall from Rs 9.75 crore in FY23.

The salary hike over the previous year for the private bank CEOs was modest. The Reserve Bank of India (RBI) needs to give its approval to the salary, performance bonuses and stock options-related payouts to the key management personnel at banks.

IndusInd Bank CEO Sumant Kathpalia enjoyed a salary of Rs 8.5 crore in FY24, the same as in the previous year.

V Vaidyanathan, the boss of IDFC First Bank, took home a pay pack of Rs 5.3 crore, up from Rs 4.45 crore in FY23. 

Sumant Kathpalia's salary is Rs 8.5 cr. Kathpalia’s pay increase adheres to the Reserve Bank's guidelines aimed at preventing excessive compensation in the banking industry.

Yes Bank CEO Prashant Kumar drew a remuneration of Rs 3.77 crore in FY24, up from Rs 3.47 crore a year ago.

The salaries of public sector bank CEOs range between Rs 34 lakh to Rs 74 lakh in FY24, as per their annual reports. This includes the annual compensation of State Bank of India chairman Dinesh Kumar Khara, which stood at Rs 39.42 lakh.