Bajaj Finance MD Rajeev Jain best paid NBFC top exec in FY25

Mumbai: Bajaj Finance managing director Rajeev Jain emerged as the highest-paid top executive of a non-banking finance company in fiscal 2025 with a total package exceeding ₹65 crore. Including employee stock options worth ₹40 crore, his overall earnings crossed ₹105 crore for the year, according to the lender’s annual report.

Arvind Kapil, MD of Poonawalla Fincorp, was the second-highest paid, earning ₹45.7 crore, along with Esops that, at current market prices, are valued at more than ₹36 crore.

Shriram Finance executive vice-chairman Umesh Revankar ranked third with a salary of ₹23.8 crore. Ravindra Kundu, CEO of Cholamandalam Investment, earned ₹6.47 crore, while Hitesh Sethia, MD of Jio Financial Services, received ₹6.39 crore.

ET in its edition dated July 17 reported that HDFC Bank MD and CEO Sashidhar Jagdishan was India’s highest-paid banker in FY25. He drew a salary of more than ₹12 crore, a 12% increase from the previous year, and was allotted 212,052 employee stock options valued at over ₹42.4 crore at current market price. ICICI Bank CEO Sandeep Bakhshi took home a salary of ₹10.45 crore. He was also awarded Esops of 254,100, worth more than ₹36 crore at current market price.

Amitabh Chaudhry, MD and CEO of Axis Bank, earned ₹9.11 crore, a 5.4% decline from the previous year, and was allotted 259,429 stock options valued at over ₹30 crore. Kotak Mahindra Bank MD and CEO Ashok Vaswani took home nearly ₹13 crore in salary and was granted 18,580 Esops valued at more than ₹4 crore.