At Rs 36 million, new Axis Bank CEO's basic pay more than Shikha Sharma's

The shareholders also approved Chaudhry's appointment as MD & CEO for three years

This report has been updated to reflect recent developments.

Amitabh Chaudhry, who is taking over as the managing director and chief executive of Axis Bank on January 1, 2019, is expected to be paid higher than his predecessor Shikha Sharma. The bank has sought its shareholders' approval through e-ballot or postal ballot before January 17 to a basic salary of Rs 36 million for Chaudhry, along with other perquisites, according to the bank’s filing to exchanges.

 
The proposed remuneration of Rs 36 million is higher than the basic salary of Rs 29 million paid to Sharma during 2017-18, according