HDFC Bank's Aditya Puri emerged as the highest-grossing banker among the top three private-sector lenders in his retirement year with total emoluments of ₹13.82 crore. Its immediate rival ICICI Bank's MD and CEO Sandeep Bakhshi "voluntarily relinquished" his fixed compensation of basic and supplementary allowances for FY21, which had seen wide-scale impact of the COVID pandemic, as per the second-largest lender's annual report. Amitabh Chaudhry, who has been leading the third largest private sector lender Axis Bank, got paid ₹6.52 crore, the bank's annual report said, adding that the top management was not given any salary increment in FY21. Its executive director in-charge of wholesale banking Vishakha Mulye grossed ₹5.64 crore, as per the annual report. When compared with the bank's median salary, the allowances drawn by Jagdishan were the highest at 139 times the median salary of a bank employee, while Chaudhry earned 104 times the median and ICICI Bank executive directors drew 96 times the median salary.

Source: Mint July 25, 2021 08:48 UTC