Home / Business and Economy / HDFC Bank CEO: India's Highest Paid Banker Package Revealed
HDFC Bank CEO: India's Highest Paid Banker Package Revealed
8 Oct
Summary
- Anup Bagchi to become India's highest-paid bank CEO with ₹35.9 crore package.
- Target compensation includes fixed pay, substantial variable pay, and joining bonus.
- Bagchi succeeds Shashidhar Jagdishan, commencing his three-year term on October 27.
Anup Bagchi is slated to become India's highest-paid bank CEO, with HDFC Bank proposing a target annual compensation package of ₹35.9 crore. This figure, detailed in the bank's postal ballot notice, comprises ₹8.97 crore in fixed remuneration and a target variable pay of ₹26.92 crore for the 2026-27 performance year. The variable component represents nearly 75 percent of his total potential earnings.
Bagchi will also receive a one-time joining bonus of approximately ₹7.35 crore, structured as share-linked instruments that will vest over four years. His fixed remuneration includes an annual salary of ₹3.32 crore, alongside allowances, retirement benefits, and other perquisites, such as company car provisions.
The variable pay is split between ₹8.88 crore in cash and ₹18.04 crore in share-linked instruments, with the cash portion divided between upfront and deferred payments. The actual variable payout is contingent on Bagchi's performance and requires approval from various committees and the RBI.
Bagchi is scheduled to assume his new role as MD & CEO of HDFC Bank on October 27, succeeding Shashidhar Jagdishan. His appointment is for a three-year term, marking a significant transition for the banking institution.
