According to the report, Indian Bank MD&CEO Shri. Binod Kumar received a total remuneration of ₹52.50 lakh during FY 2025-26. His salary package included:
| Salary Component | Amount (₹) |
|---|---|
| Basic Pay | 26,80,000.00 |
| Dearness Allowance | 15,14,392.00 |
| Arrears | 1,00,604.25 |
| Incentives / Other Allowances | 6,82,874.48 |
| Total Salary | 49,77,870.73 |
| PF/NPS Bank Contribution | 2,72,500.65 |
| Grand Total Remuneration | 52,50,371.38 (₹52.50 lakh) |
Remuneration paid to key Management personnel
| Details | 2025-26 | 2024-25 |
|---|---|---|
| Shri Binod Kumar, MD & CEO Salary & Emoluments Paid (01.04.2025 to 31.03.2026) | ₹ 52.50 lakhs | ₹ 8.68 lakhs |
| Shri Mahesh Kumar Bajaj, Executive Director Salary & Emoluments Paid (01.04.2024 to 30.06.2025) | ₹ 58.62 lakhs | ₹ 56.11 lakhs |
| Shri Ashutosh Choudhury, Executive Director Salary & Emoluments Paid (01.04.2025 to 31.03.2026) | ₹ 85.95 lakhs | ₹ 61.62 lakhs |
| Shri Shiv Bajrang Singh, Executive Director Salary & Emoluments Paid (01.04.2025 to 31.03.2026) | ₹ 79.96 lakhs | ₹ 46.23 lakhs |
| Shri Brajesh Kumar Singh, Executive Director Salary & Emoluments Paid (01.04.2025 to 31.03.2026) | ₹ 73.36 lakhs | ₹ 36.90 lakhs |
| Ms. Mini T M, Executive Director Salary & Emoluments Paid (24.11.2025 to 31.03.2026) | ₹ 15.93 lakhs | – |
| Shri Shanti Lal Jain, Ex-MD & CEO Salary & Emoluments Paid | ₹ 16.00** lakhs | ₹ 84.38* lakhs |
| Shri Imran Amin Siddiqui^, Executive Director Salary & Emoluments Paid | – | ₹ 17.06 lakhs |
| Shri Ashwani Kumar^^, Executive Director Salary & Emoluments Paid | – | ₹ 3.09 lakhs |
* Including encashment of leave, Gratuity, PF and Pension Commutation
** Including PLI and Other allowances
^ Executive Director upto 09.03.2024, Incentive/Other allowances
^^ Executive Director upto 01.06.2023, Incentive/Other allowances
Remuneration to Directors
The remuneration including travelling and halting expenses to Non-Executive Directors are paid as stipulated by the Central Government in consultation with Reserve Bank of India from time to time in terms of Clause 17 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970 (as amended).
The Managing Director & CEO and Executive Directors (Whole Time Directors) are paid remuneration by way of salary as per rules framed by the Government of India. The details of remuneration paid to the Managing Director & CEO and Executive Director(s) are as under:
| Sl. No. | Name | Basic Pay (Rs.) | Dearness Allowance (Rs.) | Arrear (Rs.) | Incentives / Other Allowances (Rs.) | Total (Rs.) | PF/NPS Bank Contribution (Rs.) | Grand Total (Rs.) |
|---|---|---|---|---|---|---|---|---|
| 1 | Shri S L Jain* | 0.00 | 0.00 | 0.00 | 1600080.00 | 1600080.00 | 0.00 | 1600080.00 |
| 2 | Shri Binod Kumar | 2680000.00 | 1514392.00 | 100604.25 | 682874.48 | 4977870.73 | 272500.65 | 5250371.38 |
| 3 | Shri Mahesh Kumar Bajaj# | 562800.00 | 309540.00 | 11256.00 | 4922296.67 | 5805892.67 | 56280.00 | 5862172.67 |
| 4 | Shri Brajesh Kumar Singh | 2688000.00 | 1518720.00 | 711375.87 | 2103600.00 | 7021695.87 | 314092.26 | 7335788.13 |
| 5 | Shri Shiv Bajrang Singh | 2688000.00 | 1518720.00 | 973923.99 | 2486913.33 | 7667557.32 | 328340.65 | 7995897.97 |
| 6 | Shri Ashutosh Choudhury | 2688000.00 | 1518720.00 | 1047917.26 | 2622690.33 | 7877327.59 | 717386.37 | 8594713.96 |
| 7 | Ms. Mini TM | 948266.67 | 549994.67 | 0.00 | 0.00 | 1498261.34 | 94826.67 | 1593088.01 |
* MD & CEO upto 31.12.2024
# Executive Director upto 30.06.2025
