........To most observers it would appear that the government is unnecessarily penny pinching when it comes to CEO pay. Their reasoning is that salary hikes are being blocked by the bureaucracy who does not want psu employees to get more than babus of an equivalent rank in the government. Former RBI governor D Subbarao too supported psu chiefs on this issue pointing out that if psu banks had to compete with private sector lenders there should be a level playing field in salaries. So why is there such an inverse wage structure in public sector banks?................
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