CEO Sashidhar Jagdishan received ₹3.31 crore in basic salary, ₹3.63 crore in allowances and perquisites, ₹39.70 lakh towards provident fund contributions and ₹49.64 lakh in superannuation benefits. He also earned a performance bonus of ₹7.29 crore and was granted 4,28,405 stock options during FY26.
Deputy Managing Director Kaizad Bharucha drew ₹3.60 crore in basic salary and ₹4 crore in allowances and perquisites. He also received ₹43.16 lakh towards provident fund contributions and ₹53.95 lakh in superannuation benefits, while his performance bonus stood at ₹8.57 crore. Bharucha was granted 6,23,651 stock options, the highest among the bank’s whole-time directors.
Executive Director V. Srinivasa Rangan drew ₹4.03 crore in basic salary, ₹2.98 crore in allowances and perquisites, ₹48.32 lakh towards provident fund contributions and ₹60.40 lakh in superannuation benefits. He also received a performance bonus of ₹3.18 crore and was granted 2,93,538 stock options during the year.
Executive Director Bhavesh Zaveri
, who ceased to hold office at the close of business on April 18, 2026, received ₹2.02 crore in basic salary, ₹2.53 crore in allowances and perquisites, ₹24.26 lakh towards provident fund contributions and ₹30.33 lakh in superannuation benefits. He also earned a performance bonus of ₹2.02 crore and was granted 1,38,542 stock options. The annual report noted that the performance bonus included a cash bonus for his performance as Executive Director and Group Head.
Among the non-executive directors, Sandeep Parekh received the highest sitting fees at ₹1.20 crore, followed by M.D. Ranganath (₹96 lakh), Renu Karnad (₹83 lakh), Harsh Kumar Bhanwala (₹79 lakh), Lily Vadera (₹69 lakh), Atanu Chakraborty (₹59 lakh), Sunita Maheshwari (₹45 lakh), Santhosh Keshavan (₹40 lakh) and Interim Chairman Keki Mistry (₹35 lakh). In addition to sitting fees, all non-executive directors, except the Part-time Chairman, received ₹30 lakh each as fixed remuneration in line with the RBI’s governance framework.
The exception was Atanu Chakraborty, who, as Part-time Chairman, received ₹48.25 lakh as fixed remuneration instead of ₹30 lakh. According to the annual report, the Reserve Bank of India had approved a fixed remuneration of ₹50 lakh for the full financial year. However, since Chakraborty resigned on March 18, 2026, he was paid ₹48.25 lakh on a proportionate basis.
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Combined with ₹59 lakh in sitting fees for attending Board and Committee meetings, his total remuneration for FY26 stood at ₹1.07 crore. He was also provided with a car for official and personal use until the date of his resignation.
The annual report also notes that Sunita Maheshwari, who was reappointed as an Independent Director with effect from March 30, 2026, received fixed remuneration on a proportionate basis during FY26. According to the bank, the balance remuneration for the remainder of her tenure will be paid in the subsequent financial year, in line with shareholder and RBI approvals.
