ICICI Bank 2005 Annual Report Download - page 21

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rule(s) applicable from time to time. If accommodation owned by the Bank was not provided, the
concerned wholetime Director was eligible for house rent allowance of Rs. 50,000 per month and
maintenance of accommodation including furniture, fixtures and furnishings, as may have been provided
by the Bank.
The non-executive Directors (except the nominee Director of Government of India) were paid sitting fees
of Rs. 20,000 for each meeting of the Board or Committee attended by them. The total sitting fees paid
during fiscal 2005 for attending Meetings of the Board and Committees is given in the following table:
VI. Business Strategy Committee
Terms of Reference
The function of the Committee is to approve the annual income and expenditure and capital expenditure
budgets for presentation to the Board for final approval and to review and recommend to the Board the
business strategy of ICICI Bank.
Composition
The Business Strategy Committee comprises five Directors, namely, N. Vaghul, Anupam Puri,
M. K. Sharma, P. M. Sinha and K. V. Kamath. N. Vaghul is the Chairman of the Committee and a majority of
its members are independent Directors. The Committee did not meet during the year as the budget and
other strategic issues were directly reviewed by the Board of Directors.
VII. Credit Committee
Terms of reference
The functions of the Committee include review of developments in key industrial sectors and approval of
credit proposals as per authorisation approved by the Board.
Composition
The Credit Committee comprises four Directors. It is chaired by N. Vaghul and a majority of its members
are independent Directors. There were six meetings of the Committee during the year. The details of the
19
Directors’ Report
Sitting fees paid (Rupees)
N. Vaghul
Uday Chitale
P. C. Ghosh
L. N. Mittal
Anupam Puri
Somesh Sathe
M. K . Sharma
P. M. Sinha
Marti G. Subrahmanyam
V. Prem Watsa
Satish C. Jha (upto September 20, 2004)
S. B. Mathur (upto March 4, 2005)
Total
Name of Director
440,000
600,000
40,000
60,000
80,000
660,000
360,000
240,000
160,000
60,000
60,000
100,000
2,860,000
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