Former SBI Chairman Rajnish Kumar's remuneration triples by joining these listed firms

livemint.com:

CNBC TV18. Kumar's remuneration has surged 3x by serving the board seats at various listed firms such as L&T, Hero Motocorp, Amuja Cements, etc. The Ex-SBI chief also holds board seats at BharatPe, LTIMindtree, and Brookfield India Real Estate Trust.

Also read: Former SBI Chief Rajnish Kumar appointed Chairman of Mastercard India According to the CNBC report, Kumar earned ₹89 lakh of remuneration by being on the board of Hero Motocorp ( ₹38 lakh), LTIMindtree ( ₹33.2 lakh), and Ambuja Cements ( ₹17.8 lakh), respectively in FY 2023. He was recently appointed to the boards of Larsen & Toubro and Brookfield India Real Estate Trust. As per Brookfield India Real Estate Trust FY 2023's annual report, "Each independent director is paid an overall remuneration of approximately ₹51 lakh per annum inclusive of sitting fees and commission for attending the board and committee meetings, except Mr Rajnish Kumar who was appointed on March 30, 2023 and was being paid sitting fees of rupees one lakh for attending the board meeting of the Manager".

Also read: Will advise on governance, structure at Byju’s: Kumar Kumar was appointed as an independent director at L&T from May 10, 2023, to May 9, 2028. The company paid ₹1 lakh to him as sitting fees for each meeting of the Board. In SBI, Kumar received a total compensation of ₹30.34 lakh in FY 2021 when he served as the chairman of the public lender.

In FY 2020, his salary was ₹31.26 lakh. But, during his tenure at SBI, Kumar enjoyed additional perks such as luxurious accommodation, free transportation travel perks, etc. Yesterday, Mastercard named Kumar as the chairman of its Indian unit.