Paytm Proposes New Remuneration Framework for Board Members

Paytm has proposed a new remuneration framework for its board members aimed at promoting financial discipline and good corporate governance. The proposal includes a cap on annual compensation for non-executive independent directors and links variable pay to meeting attendance and committee positions.

Paytm has proposed a new remuneration framework ahead of its upcoming annual general meeting, targeting enhanced financial discipline and corporate governance.

This framework, which awaits shareholder approval, includes a cap where non-executive independent directors can earn an annual compensation of up to Rs 48 lakh. This consists of a fixed Rs 20 lakh and a variable component based on meeting attendance and committee roles.

The changes are slated to take effect from April 1, 2024. Previously, directors like Ashit Ranjit Lilani and Gopalasamudram Srinivasaraghavan Sundararajan earned substantially higher figures. The new structure follows a benchmarking exercise aligned with governance practices in similar sectors.

(With inputs from agencies.)