.....In January, 2012 the Reserve Bank of India (RBI) issued guidelines on compensation of bankers. RBI felt that employees were too often rewarded for increasing the short-term profit without adequate recognition of the risks and long-term consequences that their activities posed to the organizations. Today, private sector and foreign banks operating in India need RBI’s approval for grant of remuneration to top executives. Variable pay of top bosses at banks has been restricted to 70% of fixed pay......
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