RBI gov, deputies get salary hike
New Delhi: The basic salaries of RBI governor Urjit Patel and his deputies have been doubled to `2.5 lakh and `2.25 lakh per month, respectively. Still, their salaries are much lower than the top executives of various banks.
New Delhi, April 2: RBI governor Urjit Patel and his deputies have got a big pay hike with the government, more than doubling their basic salary to `2.5 lakh and `2.25 lakh per month, respectively. The basic pay of the governor and deputy governors" have been revised retrospectively with effect from January 1, 2016 and marks a jump from `90,000 basic pay so far drawn by the governor and `80,000 for his deputies.
Their salaries are still lower than the top executives of various banks regulated by the RBI.The monthly salaries of these top RBI officials include basic pay, dearness allowance and other payments, which totalled to `2,09,500 in case of Patel as on November 30, 2016, stated the latest information disclosed on the RBI website.
In response to a query under the RTI Act, the central bank disclosed that as per a Finance Ministry communication, dated February 21, the basic pay of the governor and deputy governors have been revised. Following the revision, the basic pay of the governor stands increased to `2,50,000 per month, while the same for a deputy governor would be `2,25,000, the RBI said.
Dearness Allowance would be notified by the central government from time to time while "all other allowances are to be paid at existing rates as if the pay has not been received with effect from January 1, 2016,"
Mr Patel received a salary of `2.09 lakh in October, the first full month in office. This amount was same as drawn by his predecessor Mr Raghuram Rajan in August that year.
the RTI reply said. The RBI didn’t disclose the new gross pay for Mr Patel and his deputies following the revision in basic pay. With the earlier basic pay of `90,000, Mr Patel got a DA of `1,12,500 and 'other payments' of `7,000, totalling to a gross pay of `2,09,500. The increase in the basic itself would take his gross pay to nearly `3.70 lakh.
Mr Patel received a salary of `2.09 lakh in October, the first full month in office. This amount was same as drawn by his predecessor Mr Raghuram Rajan in August that year. Mr Rajan assumed RBI governorship from September 5, 2013 at a monthly salary of `1.69 lakh. His salary was revised to `1.78 lakh and `1.87 lakh respectively during 2014 and March 2015. His salary was raised to `2.09 lakh from `2.04 lakh in January 2016.