RBI accords approval for variable pay FY 2025-26 and fixed remuneration FY 2026-27 for MD & CEO, Whole-time Director
Suryoday Small Finance Bank has received RBI approval for payment of Variable Pay for FY 2025-26 and Fixed Remuneration for FY 2026-27 to MD & CEO Mr. Baskar Babu Ramachandran and Whole-time Director Mr. Hemant Shah.
By ScoutQuest · · 2 min read
- RBI Approval Letter Date
- letter dated October 14, 2026
- Variable Pay Period Approved
- Variable Pay for FY 2025-26
- Fixed Remuneration Period Approved
- Fixed Remuneration for FY 2026-27
RBI approval received for executive remuneration
- The Bank has received approval from the Reserve Bank of India, vide its letter dated October 14, 2026, for the payment of Variable Pay for FY 2025-26 and Fixed Remuneration for FY 2026-27 to two senior executives.
- The executives are Mr. Baskar Babu Ramachandran, the Managing Director & Chief Executive Officer of the Bank, and Mr. Hemant Shah, the Whole-time Director (Executive Director) of the Bank.
- Shareholders had already approved this at the Bank's 18th Annual General Meeting held on August 06, 2026.
- The RBI approval is in accordance with section 35B of the Banking Regulation Act, 1949.
What the two pay heads refer to
- Fixed Remuneration is the regular salary component payable for the year, in this case FY 2026-27.
- Variable Pay is the performance-linked component, here relating to FY 2025-26.
The sequence of approvals
For banks and small finance banks, certain remuneration payable to whole-time directors and the MD & CEO needs the regulator's approval. Here, shareholders approved the remuneration at the AGM, and the RBI has now accorded its approval through its letter dated October 14, 2026. The Bank has said this intimation will also be made available on its website in the investor corner.
What this means for retail investors
- This is a governance and regulatory update about pay to two key managerial persons, rather than an announcement about the Bank's business operations.
- Remuneration to key managerial persons forms part of the Bank's overall cost base.
- The disclosure identifies who the payments relate to and for which years the variable pay and fixed remuneration apply.
In short
The update records that the required RBI approval for the Variable Pay for FY 2025-26 and Fixed Remuneration for FY 2026-27 for the MD & CEO and the Whole-time Director has been received, following the shareholders' approval at the 18th AGM held on August 06, 2026.
Also from Suryoday Small Finance Bank
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23 Oct 2026
Board meeting on 22 October 2026 to consider raising funds via Non-Convertible Debentures (Tier II Bonds)
17 Oct 2026
Suryoday Small Finance Bank to host Q2 & H1FY27 earnings call with analysts on October 30, 2026
14 Oct 2026
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