ICICI Bank offers over 20% salary hike to top management

ICICI Bank, India's largest private sector bank, has proposed a pay hike of over 20 per cent to its top management team just months before issue of new bank licences to corporate houses by the Reserve Bank of India, an Economic Times report said.

The board of directors have rewarded Chanda Kochhar, the managing director and chief executive offer of the bank with a 20.75 per cent salary hike to Rs 5.12 crore in 2013. The board has also decided to raise the minimum and maximum range of monthly supplementary allowance for Kochhar to Rs 10-18 lakh from about Rs 8.70 lakh per month.

Read the full report here