Have you ever pondered the salary of the senior management of significant government banks? In 2024, a popular topic of discussion is the pay for executives, including as chief executive officers (CEOs) and managing directors (MDs), at large banks like Punjab National Bank (PNB) and State Bank of India (SBI). These numbers help us understand their roles and the status of the banking industry today. We'll break down the most recent wage data for these elite roles in this post, making it simple to grasp their income and the implications for the banking sector going forward. Let's examine the CEO and MD compensation of the largest public sector banks (PSU Banks).
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The combined take-home salaries of the heads of the 10 biggest state-owned banks was less than half the compensation paid to Axis Bank's top executive in 2023-24.
|
Sr. No. |
Bank |
Salary (Rs.) |
|
1 |
State Bank of India |
39,42,000 |
|
2 |
Punjab National Bank |
39,31,488 |
|
3 |
Bank of Baroda |
44,38,137 |
|
4 |
Canara Bank |
42,23,971 |
|
5 |
Union Bank of India |
40,00,000 |
|
6 |
Bank of India |
33,70,597 |
|
7 |
Indian Bank |
47,53,000 |
|
8 |
Central Bank of
India |
44,46,000 |
|
9 |
Indian Overseas Bank |
40,80,132 |
|
10 |
UCO Bank |
Not Declared |
|
11 |
Bank of Maharashtra |
74,00,000 |
|
12 |
Punjab & Sind
Bank |
Not Declared |
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