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The Reserve Bank of India's (RBI) November 2019 guidelines on the compensation of key managerial personnel direct banks to establish a clawback mechanism for variable pay to address misconduct risk and ensure compliance with all relevant statutory and regulatory requirements. The clawback clauses feature in the employment contracts of the executives concerned, allowing the bank to launch recovery of compensation in cases of proven misconduct or violations of company policy, said officials in the know.
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Pensions Secretary Pat McFadden says that the rethink does not mean that payouts will necessarily follow.
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News and Media
Pensions Secretary Pat McFadden says that the rethink does not mean that payouts will necessarily follow.
Category:
News and Media
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