Salary of MD&CEO of Bank of Maharashtra; Check Salary, PLI, Allowances
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Bank of Maharashtra is one of the leading public sector banks in India. The Chairman and Managing Director/ MD & CEO and Executive Directors are being paid remuneration by way of salary /incentive as per rules framed by the Govt. of India. The details of salaries paid to MD & CEO and Executive Directors during the year 2024-25 are as under (in Rs. lakhs):
| Name & Designation | Remuneration | Performance Linked Incentive | PL Encashment |
|---|---|---|---|
| Shri Nidhu Saxena (Managing Director & CEO) | 37.81 | 0.34 | 0.00 |
| Shri Asheesh Pandey (Executive Director) | 37.18 | 23.70 | 2.07 |
| Shri Rohit Rishi (Executive Director) | 33.03 | 8.84 | 0.92 |
Sitting fees: Government of India vide its communication dated 18th January, 2019 has revised sitting fees for attending meetings of Board and its sub-committees as
A. Board meeting: Rs. 40,000/- per meeting
B. Committee meeting: Rs. 20,000/- per meeting
C. Chairing Board meeting:
(a) Rs. 10,000/- per meeting in addition to
D. Chairing Committee meeting:
(b) Rs. 5,000/- per meeting in addition to
The total Sitting Fees paid to the Non-Executive Directors during the year 2024-25 is as under: (No sitting fee is payable to Whole Time Directors and Director representing Government of India and official Director representing Reserve Bank of India).
| Sr. No. | Name of the Director | Amount Paid (Rs.) |
|---|---|---|
| 1. | Shri Rakesh Kumar | 3,70,000.00 |
| 2. | Shri Shashank Shrivastava | 12,95,000.00 |
| 3. | Shri S. Baljit Singh | 15,00,000.00 |
| 4. | Shri Praveen Kumar | 11,50,000.00 |
| TOTAL | 43,15,000.00 |
Besides this, sitting fees of Rs. 40,000/- each was paid to External experts i.e. Mrs. S.A. Panse and Mrs. Gitika Kapoor for attending the meeting of Steering Committee of the Board on HR held on 07.06.2024 and 25.09.2024 respectively. Additionally, Asha Bhandarkar, Partha Ray have been paid Rs. 20000/- each for attending the meeting of Steering Committee of the Board on HR held on 27.03.2025.
