BANK NEWS
Attractive compensation package to recruit best professionals for PSBs on anvil says Vinod Rai
New Delhi . The Banks Board Bureau is working on a fairly attractive compensation package including elements of bonus, employee stock ownership plans (ESOPs), non-monetary perks and others at all management levels as part of corrective steps to ensure that best of professionals are recruited for public sector banks (PSBs), its chairman, Vinod Rai said at an ASSOCHAM event held in New Delhi today.ANI
In some ways the compensation package of these public sector institutions needs to be improved, maybe we are not able to do much with fixed part of compensation package but variable part we certainly are looking into it and we are hopeful that by next financial year we will be able to introduce a far more attractive package, informed Rai while delivering 97th ASSOCHAM Foundation Day Lecture.
An attempt will be made to introduce accountability in the system, to ensure that you appoint a whole time director or a CEO (chief executive officer) at an age where he has got a minimum of six years more to go in the institution so that he can be held accountable for the decision, added Rai.
He also said that the Banks Board Bureau is in the process of filling up vacancies. We are looking for the right people, and we are trying to ensure that we choose the best and not the second-best.
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