Salary of MD&CEO of India Overseas Bank, Check Salary, Allowances, PLI and Other Benefits
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Indian Overseas Bank is one of the leading public sector banks in India. In this article, we will have a look at the Salary offered to MD&CEO and EDs (Executive Directors) of Indian Overseas Bank.
REMUNERATION TO DIRECTORS
The details of salary paid to the Whole-time Directors of the Bank, during the Financial year 2024–25 are as under:
| Name of the Whole Time Director | Remuneration (2024–25)* |
|---|---|
| Shri Ajay Kumar Srivastava (MD & CEO) | 64,40,736.00 |
| Shri Joydeep Dutta Roy (ED) | 41,25,174.07 |
| Shri Dhanaraj T (ED) | 39,21,601.34 |
| Ms. S. Srimathy (ED, Exited on 09.03.2024) | 19,78,160.00 |
| Shri Sanjay Vinayak Mudaliar (ED, Exited on 30.01.2024) | 15,32,160.00 |
*Remuneration includes salary & allowances, salary arrears, performance incentives, leave encashment arrears and gratuity arrears.
SITTING FEES TO DIRECTORS
The Bank does not pay any remuneration to the Non-Executive Directors except sitting fee fixed by Government of India which is Rs.40,000/- per Board Meeting and Rs.20,000/- per Committee Meeting and additional Fee of Rs.10,000/- for chairing Board Meeting and Rs.5,000/- for chairing Board Committee meeting in terms of GOI Circular No.F.No.15/1/2011-BO.I dated 18.01.2019.
The details of Sitting Fees paid to the during the year 2024–25 are as under:
| Name of the Director | FY 2024–25 |
|---|---|
| Shri Srinivasan Sridhar | 12,40,000.00 |
| Shri Suresh Kumar Rungta (up to 20.12.2024) | 10,45,000.00 |
| Shri B Chandra Reddy (up to 20.12.2024) | 8,65,000.00 |
| Shri Deepak Sharma (up to 20.12.2024) | 9,80,000.00 |
| Shri Sanjaya Rastogi | 12,90,000.00 |
Only common officers specially Chief Managers are being treated as idiots and slave. Their due in benefits not being shared with them. Totally at the mercy of management, being thrown anywhere , anytime during the year. Delivery unrealistic targets.
Apart from this, please post income from under table dealings like software upgradation, outsourcing, procurement, mis selling insurance etc.