India’s highest-paid bankers are from non-banks. RBI can’t do much about it—yet.
Shadow banks such as Poonawalla Fincorp and Bajaj Finance have been able to shower their bosses with hefty salaries, bonuses and stock options as they reap the rewards of robust business growth. This has been possible also because the CEO salaries of non-banking financial companies are outside the purview of India’s banking regulator. But that