RBI Governor Gets Less Salary Than Other Bankers
In an irony of sorts, RBI gets to approve salaries of all the top-level bankers in the country, but the central bank’s top officials themselves get less than 5 per cent of what is paid to the bank chiefs.
According to a study, the RBI Governor D Subbarao’s total remuneration is less than that paid to heads of not only private sector banks in the country, but even from the public sector even though licenses to carry on business is issued to these banks by the RBI Governor.
The difference in the salaries is quite huge where in some cases bank heads are earning nearly 20 times what the RBI Governor is paid.
Even though it is the RBI Governor whose signature appears on all currency notes in India, his gross salary for the month of June 2010 was 1,28,500 which works out to an annual package of a little over 15 lakhs.
The gap is huge with salaries of some of the bank chiefs being over 20-times of what is paid to RBI’s governor, its four deputy governors or its seven executive directors. According to the information available from RBI under the Right to Information Act, RBI governor D Subbarao got a gross salary of Rs ` 1,28,500 in the month of June 2010. This corresponds to an annual package of little over ` 15 lakh for RBI governor, who is a signatory to all the currency notes in the country.