‘Show Me The Money’!

When government appointed veteran banker K V Kamath to head the BRICS bank it reaffirmed Modi’s resolve to put premium on talent. But why is it that the government has yet failed to rope in top private sector talent to fill up key posts lying vacant at major public sector banks? The initial government pitch received mediocre response forcing it to review the qualification criterion. This led to a flexible pay offer, reduction in upper age limit and limited board experience. It, however, is unlikely to help bring top private talent on board. Reason: the wide chasm in pay scales. The average top private sector bank CEO salary is Rs 4 crore per annum as against 25 lakhs for SBI Chief. Unless this core issue gets addressed induction of change agents to run top PSU banks will remain a paper dream.

Pic Courtesy: indiapublicsector.com
Pic Courtesy: indiapublicsector.com

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