Raghuram Rajan has exited Reserve Bank of India as governor. He will be replaced by Urjit patel, who is working in his team and is currently Deputy governor. There were lots of speculation whether Rajan also know and R3 will continue or nor. Government always had a mum over it. It was Raghuraam rajan himself who called off the day citing different reasons at different point of time.
In one of chit chat session he joked about his salary, saying it is too less. IRS team has done a comparative salary analysis of government banks and private banks in India. 5 band were included in this survey RBI, Axis Bank, HDFC Bank, ICICI Bank and SBI. RBI is headed by Governor i.e. Rahuram Rajan, HDFC is headed by Managing Director Aditya puri, SBI by Chairperson Arundhati Bhattacharya, ICICI bank by CEO chanda Kochar and Axis bank by CEO shikha Sharma.
Salary Bracket is lead by MD of HDFC bank Aditya puri with annual package of 9.7 crore, followed by Axis Bank CEO Shikha sharma who is withdrawing 5.5 crore, then it is chanda kochar of ICICI bank at Rs. 4.76 crore. SBI is on poorly 4th with annual package of 31.10 drawn by Arundhati Bhattacharya. Raghum rajan who is leading Indian Economy and is being watched by world for his brave and effective decisions specially like controlling inflation is at bottom with Rs. 23.98 lacs annual salary.
When CRR or SLR is decided by RBI, all these banking heads are nothing but mute spectator. Their decision start post announcement by RBI decided decisively by R3.
But when it come to take home R3 per month is taking home less than what Aditya puri is entitled for perday. or you can say Aditya puri 10 days remuneration is more than what Raghuram rajan earn in whole year. Raghuram rajan has expressed explicitly that he would work in USA and for this he would renew his Green card. USA is known for paying good salary and Rajan or say Rexit is heading for more money himself than any one else.
It can be understood that remuneration must have paid significance importance for leaving most coveted finance position in India. it is THE POSITION that entitle one to have one’s autograph on every note in circulation !
