Ra­jan No.1 at RBI, But Not the Best Paid

The Economic Times - - Economy: Macro, Micro & More - Joel.Re­bello@ times­group.com

Mum­bai: That Raghu­ram Ra­jan doesn’t make a for­tune as gov­er­nor of the Re­serve Bank of In­dia would have been ex­pected, but it turns out he is not the high­est paid at that au­gust in­sti­tu­tion ei­ther.

Monthly salaries dis­closed on the RBI web­site show that at least three peo­ple earn more than the gov­er­nor. Th­ese are a part of dis­clo­sures un­der the Right to In­for­ma­tion (RTI) Act and the fig­ures are as of June 30, 2015, as per the RBI'’s fi­nan­cial year. It is un­clear when the salaries were up­loaded on the RBI web­site.

Ra­jan earned a gross salary of .₹ 1.98 lakh, in­clud­ing ba­sic pay of .₹ 90,000, dear­ness al­lowance of .₹ 1 lakh and other al­lowances of .₹ 7,000 per month. Those get­ting more money have their monthly salaries de­scribed un­der other al­lowances or pay­ments, with no ba­sic pay or dear­ness al­lowance. Gopalkr­ishna Si­taram Hegde earns the most at .₹ 4 lakh fol­lowed by An­na­malai Arap­puli Gounder at .₹ 2.2 lakh and V Kan­dasamy at .₹ 2.1 lakh as per the RBI list.

Monthly salaries of a to­tal 16,662 em­ploy­ees out­side the top man­age­ment have been dis­closed. Among the top man­age­ment, Ra­jan earns the most with the four deputy gov­er­nors each earn­ing an iden­ti­cal .₹ 1.74 lakh per month in­clud­ing .₹ 80,000 ba­sic, .₹ 90,400 dear­ness al­lowance and .₹ 3,500 in other al­lowances.

Eleven ex­ec­u­tive di­rec­tors also part of the RBI top man­age­ment have a slight dif­fer­ence in their monthly pay with seven of them earn­ing about Rs 1.7 lakh per month and four — G Mahalingam, M Pa­tra, KK Vohra and Meena Hem­chan­dra — get­ting marginally less. As many as 23 em­ploy­ees got monthly salaries higher than the deputy gov­er­nors while 44 earned more than RBI ex­ec­u­tive di­rec­tors, PTI re­ported.

Ra­jan took over as RBI gov­er­nor in Septem­ber 2013 for a three­year term, which will end this year un­less it’s re­newed.

FILE PHOTO

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