Private bank CEOs' bonus goes missing in 2017-18; basic pay sees a hike

Bonus paid to top management is approved by the bank's board and sent to the Reserve Bank of India for approval

Top private bank chief executive officers (CEOs) are yet to see their full bonuses for 2016-17 ring into their bank accounts, 2017-18 annual reports show. 

The bonus or variable pay paid to the top management is approved by the bank’s board and sent to the Reserve Bank of India (RBI) for approval. The banking regulator did not clear past bonuses of top private banks till the banks published their annual reports.

Once the central bank approves the bonus, it is paid to the management in installments.

HDFC Bank Managing Director (MD) Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar,