RBI issues compensation norms for foreign, private banks

The Reserve Bank of India has issued compensation guidelines for whole-time directors and chief executives of foreign, private, small finance, payments banks and local area banks, mandating the cash component of variable pay at 67 per cent. The RBI said if the variable pay is up to 200 per cent of the fixed pay, at least 50 percent of it should be in non-cash. If the variable pay is above 200 per cent, 67 per cent of it should be paid via non-cash instruments.   In a notification, the RBI said t...