38.6c New Delhi, India, Monday, May 20, 2024

Advertisement put up by SBI to hire CFO, offers about 3 times the Chairman’s salary

By Priyam Jain      11 June, 2020 02:24 PM      0 Comments
Advertisement State Bank of India CFO

According to its recent advertisement, the State Bank of India has invited applications for the post of Chief Financial Officer today on Wednesday, 10th June 2020. According to the advertisement issued by SBI, salary offered for the post of CFO would be around Rs 75 lakhs to Rs 1 crore, which is about three times the salary of the Chairman Rajnish Kumar, who earns about Rs 29.5 lakhs annually. 

Some of the perks that Rajnish holds including shares and a house in one of Mumbai’s prime areas are not counted in his annual payout. Recently, Rajnish had made a light-hearted reference to his salary stating that if he had to go through any pay cuts like his peers in other private banks, he would have had to live on the streets. The salary for the position of CFO is so high since SBI is offering the post through the contract-route, which is basically when SBI is allowed to offer market salaries. 

In a statement issued by the bank, it has clarified that prospective applicants have to apply for the position online, and on a successful application they would be directed towards a merit test and an interview. The contract period as agreed upon for the role of CFO is three years to begin with, which can then be renewed by another month if mutually agreed between the candidate and the bank. The cut-off age set for a person to apply is 57 years as described by the advertisement. The CFO position at SBI opened up since their previous CFO Prashant Kumar took up duty as Yes Bank’s chief executive officer earlier this March 2020.



Share this article:

Leave a feedback about this


Trending Judiciary
SC Issues Notice to ED on Hemant Soren's Plea Against Arrest in Land Scam

Supreme Court issues notice to ED on Hemant Soren's plea against arrest in a land scam case, sets hearing for May 17 after senior advocate Kapil Sibal's request for an earlier date.

14 May, 2024 11:24 AM
Trending Environment
3,800 metric tonnes of solid wastes going untreated everyday in Delhi SC records concern

The Supreme Court expressed concern as 3,800 metric tonnes of solid waste in Delhi go untreated daily. The issue must be addressed promptly beyond political lines.

14 May, 2024 11:30 AM
Trending Judiciary
Plea filed in SC for review of April 26 EVM VVPAT verdict

A plea has been filed in the Supreme Court to review its April 26 verdict on EVM VVPAT verification, challenging the decision that dismissed a demand for 100% vote cross-verification.

14 May, 2024 12:13 PM
Trending Judiciary
AI can’t detect consent Microsoft and Google tell Delhi High Court

Microsoft and Google tell Delhi HC that AI can't detect consent for NCII takedowns, challenging a 24-hour removal directive under IT Act's safe harbour protections.

14 May, 2024 01:33 PM


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email