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LAXMI SUNRISE BANK

Nepal Rastra Bank (NRB) has imposed an arbitrary salary hike on the CEO of the bank.

अर्थ सरोकार

Kathmandu. The bank and the CEOs of the financial institutions have been increased arbitrarily, the bank has been tightened. Salary of CEOs The bank has issued a new guidance on {{} of the CEO

The bank has directly linked the remuneration of the CEO to the total assets and employee expenses of the organization. 

On the other hand, a ‘Salary, Allowances and Other Facilities Recommendation Committee’ should be formed to determine the salaries, allowances and facilities of the CEO.The committee shall be formed under the convenorship of an independent director. The committee will have a total of 3 members including two board of directors. 

The same committee shall review the qualifications, experience, rate of return of capital of the organization, size of the business, and the difference in salary difference between Junior Assistant and Junior Assistant to and determine the salary, allowances and other perks of the CEO.On the basis of this recommendation, the remuneration and facilities of the CEO should be determined. 

Similarly, the Rastra Bank has also set a maximum limit of 20 percent on the performance-based remuneration of CEOs.Such remuneration will not be provided if the work is not performed as per the agreement. 

The bank has made a provision to provide only one mobile, one laptop and one vehicle to the ( to the CEO during his tenure. Only 0.50 percent of the fixed annual salary can be spent for internet, telephone, newspapers and other expenses. If the expenses exceed this, the CEO will have to bear the cost of .

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