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

Mumbai: Rajeev Jain, Managing Director of Bajaj Finance, emerged as the highest-paid NBFC CEO in FY25 with a total package exceeding Rs 65 crore. Including ESOPs worth Rs 40 crore, his overall earnings crossed Rs 105 crore for the year, according to the lender’s annual report.

Arvind Kapil, MD of Poonawalla Fincorp, was the second-highest paid, earning Rs 45.66 crore, along with ESOPs that, at current market prices, are valued at more than Rs 36 crore.

Ravindra Kundu, CEO of Cholamandalam Investment, earned Rs 6.47 crore, while Hitesh Sethia, MD of Jio Financial Services, earned Rs 6.39 crore. Umesh Revankar, Executive Vice Chairman of Shriram Finance, earned a salary of Rs 2.38 crore.

ET had recently reported that Sashidhar Jagdishan, Managing Director and CEO of HDFC Bank, was India’s highest-paid banker in FY25. He drew a salary of more than Rs 12 crore, a 12% increase from the previous year, and was allotted 212,052 employee stock options (ESOPs) valued at over Rs 42.4 crore at the current market price.

Sandeep Bakhshi also took home a salary of Rs 10.45 crore. He was also awarded ESOPs of 2.54 lakh, at current market prices these are valued at more than Rs 36 crore.

Amitabh Chaudhry, MD and CEO of Axis Bank, earned Rs 9.11 crore, a 5.4% decline from the previous year, and was allotted 259,429 stock options valued at over Rs 30 crore.

Ashok Vaswani, MD and CEO of Kotak Mahindra Bank, took home nearly Rs 13 crore in salary and was granted 18,580 ESOPs valued at more than Rs 4 crore.