ICICI Bank 2015 Annual Report Download - page 41

39Annual Report 2014-2015
(ix) Comparison of remuneration of each of the Key Managerial Personnel against the performance of the company
The ratio of the remuneration of each KMP to the PAT of the Bank is given below:
MD & CEO 0.037%
N. S. Kannan 0.025%
K. Ramkumar 0.025%
Rajiv Sabharwal 0.023%
Chief Financial Officer 0.016%
Company Secretary 0.014%
(x) The key parameters for any variable component of remuneration availed by the directors
The Bank’s compensation policy and practices are in line with the guidelines issued by RBI in January 2012. The Bank
undertakes an annual strategic planning and budgeting exercise based on which the Key Performance Indicators (KPIs)
are fixed for the wholetime Directors by the BGRNC. These KPIs, in addition to financial parameters, include parameters
related to risk and compliance. At the end of financial year, the performance of the Bank as well as performance of each
wholetime Director based on their respective KPIs (including those pertaining to compliance and risk) is presented to
the BGRNC. Based on the performance assessment by the BGRNC, the variable component of the remuneration for the
wholetime Directors is recommended to and approved by the Board.
(xi) The ratio of the remuneration of the highest paid director to that of the employees who are not directors
but receive remuneration in excess of the highest paid director during the year
Not applicable.
(xii) Afrmation that the remuneration is as per the remuneration policy of the company
Yes.
IV. Corporate Social Responsibility Committee
Terms of Reference
The functions of the Committee include review of corporate social responsibility (CSR) initiatives undertaken by the ICICI
Group and the ICICI Foundation for Inclusive Growth, formulation and recommendation to the Board of a CSR Policy
indicating the activities to be undertaken by the Company and recommendation of the amount of the expenditure to be
incurred on such activities, reviewing and recommending the annual CSR plan to the Board, making recommendations
to the Board with respect to the CSR initiatives, policies and practices of the ICICI Group, monitoring the CSR activities,
implementation and compliance with the CSR Policy and reviewing and implementing, if required, any other matter related
to CSR initiatives as recommended/suggested by RBI or any other body.
Composition
At March 31, 2015, the Corporate Social Responsibility Committee comprised four Directors including two independent
Directors, the Government Nominee Director and the Managing Director & CEO and was chaired by M. S. Ramachandran,
an independent Director. There were three Meetings of the Committee during the year. The details of the composition of
the Committee and attendance at its Meetings are set out in the following table:
Name of Member Number of meetings attended
M. S. Ramachandran, Chairman 3/3
Arvind Kumar (upto June 6, 2014) 0/1
Tushaar Shah10/3
Alok Tandon (w.e.f. July 31, 2014) 1/1
Chanda Kochhar 3/3
1. Participated in one Meeting through tele-conference.