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Governor Rajan Not Top-paid Man At RBI: Report

By Religare

Reserve Bank of India Governor Raghuram Rajan may be the most powerful person at the central bank, but he does not appear to be the top paid one, as per the media reports.

As per the latest details published by the Reserve Bank of India (RBI) under the RTI Act, Rajan's total 'monthly emoluments' stood at Rs 1,98,700. This included a basic pay of Rs 90,000, a dearness allowance of Rs 1,01,700 and 'others' of Rs 7,000, said the PTI report.

Governor Rajan Not Top-paid Man At RBI: Report
However, the monthly emoluments were higher than Rajan's in case of at least three others - Gopalkrishna Sitaram Hegde (Rs 4 lakh), Annamalai Arappuli Gounder (Rs 2,20,355) and V Kandasamy (Rs 2.1 lakh), as per the RBI's list of 'monthly emoluments of employees'.

The latest available public figures are for the period of June-July 2015 and it could not be ascertained whether these three persons are still with the central bank.

While the RBI did not disclose their designations along with the monthly emoluments, Hegde has served as the central bank's Principal Legal Advisor in the past.

The total emoluments for Hegde and Kandasamy did not include the basic pay or DA components.

Repeated queries sent to Alpana Killawala, the RBI spokesperson, did not elicit any response including on the latest salary figures of the top executives including Mr Rajan.

Interestingly, the published monthly emoluments of Ms Killawala, designated as Principal Adviser in the Department of Communications at the RBI, were higher than that of the four deputy governors and 11 executive directors whose pay packages have been made public by the central bank on its website.

In the RBI hierarchy, the Governor is followed by four deputy governors (DGs) and then by the executive directors, while the heads of various departments come thereafter.

The Governor remains on the top in terms of basic pay. The total monthly emoluments for each deputy governor stood at Rs 1,73,900 while those for the executive directors were at Rs 1,70,864.

The total emoluments were higher than those of deputy governors in case of at least 23 employees including Ms Killawala, whose total has been disclosed as Rs 1,78,265. This included a basic pay of Rs 67,000, a DA of Rs 85,239 and other payments of Rs 26,026.

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