ICICI Bank 2014 Annual Report Download - page 26
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ThedetailsofsharesandconvertibleinstrumentsoftheBank,heldbythenon-executiveDirectorsason
March31,2014aresetoutinthefollowingtable:
Name of Director Instrument No. of shares held
K.V. Kamath Equity 540,000
DileepChoksi Equity 500
HomiKhusrokhan Equity 7001
ArvindKumar — —
M.S.Ramachandran Equity 200
TushaarShah — —
V. K.Sharma — —
V. Sridar — —
1. 700sharesheldjointlywithrelatives.
RBI vide itsCircularDBODNo.BC.72/29.67.001/2011-12datedJanuary13,2012hasissuedguidelines
on“CompensationofWholetimeDirectors/ChiefExecutiveOfficers/RisktakersandControlfunctionstaff
etc.”forimplementationbyprivatesectorbanksandforeignbanksfromthefinancialyear2012-13.In
termsoftherequirementofthesaidcirculartheBankadoptedaCompensationPolicyasrequiredbyRBI
inJanuary2012.ThesaidcircularalsorequirestheBanktomakefollowingdisclosuresonremuneration
onanannualbasisintheirAnnualReport:
COMPENSATION POLICY AND PRACTICES
(A) Qualitative disclosures
a) Information relating to the composition and mandate of the Remuneration Committee
TheBoardGovernance,Remuneration&NominationCommittee(BGRNC)atMarch31,2014comprised
threeindependentDirectors.ThefunctionsoftheCommitteeincluderecommendationofappointments
ofDirectorstotheBoard,evaluationoftheperformanceoftheWholeTimeDirectors(WTDs)(including
the Managing Director & CEO) on predetermined parameters, recommendation to the Board of the
remuneration (including performance bonus and perquisites) to WTDs, approval of the policy for and
quantumofbonuspayabletothemembersofthestaff,framingofguidelinesfortheEmployeesStock
Option Scheme (ESOS) and recommendation of grant of the Bank’s stock options to employees and
WTDsoftheBankanditssubsidiarycompanies.
b) Information relating to design and structure of remuneration processes and the key features and
objectives of remuneration policy
The Bank has under the guidance of the Board and the BGRNC, followed compensation practices
intendedtodrivemeritocracywithintheframeworkofprudentriskmanagement.Thisapproachhasbeen
incorporatedintheCompensationPolicyapprovedbytheBoardonJanuary31,2012,pursuanttothe
guidelinesissuedbyRBI.
ThekeyelementsoftheBank’scompensationpracticesare:
• Effectivegovernanceofcompensation:TheBGRNChasoversightovercompensation.TheCommittee
definesKeyPerformanceIndicators(KPIs)forWTDsandequivalentpositionsandtheorganisational
performance norms for bonus based on the financial and strategic plan approved by the Board.
Directors’Report