The Reserve Bank of India has proposed to slash the salaries of CEOs and directors of private banks on poor showing. In its draft regulations on compensation of private sector and local area banks and all foreign banks operating in India, the RBI has also proposed to limit any salary hike to 15 per cent.In the draft that was released on Friday, the RBI has added that guaranteed bonuses were not consistent with sound risk management or productivity-linked principles and proposed that they should not be a part of the compensation plan.The RBI, has however, suggested autonomy for private sector banks for paying perks to the senior staff in line with the existing practices. The central bank has also proposed that private sector banks must ensure that there is a proper balance between fixed pay and variable pay. The draft also proposes to make it binding on private sector banks to constitute a Remuneration Committee in the Board.In case of foreign banks, RBI has said, if the compensation was not properly aligned to risks or there are other lacunae, the issue would be taken up with the home-country regulator. Private sector banks have been suggested to submit a copy of their compensation policy to the apex bank.