|
|
Dhanalakshmi Bank has offered an Employee Stock Option Plan for its employees. This private bank has come up with this decision so as that its employees can be rewarded. The bank also feels that fresh pool of talent can be attracted by means of this initiative.
An ESOP Trust has been formed by the Dhanalakshmi Bank. According to reports, about 6% bank’s share capital will be given to the Trust for offering the ESOPs to the employees.
“We have received our Board’s approval to grant six per cent of the bank’s equity capital to the Trust which will act as custodian and allot ESOPs as per the recommendations of the Compensation Committee of the Board,” Dhanalakshmi Bank Managing Director and CEO Amitabh Chaturvedi told the media in Mumbai on Monday.
“Most regulatory approvals have been obtained,” he added.
According to Mr. Chaturvedi, all employees who were on the rolls of the bank as on December 31, 2008, as well as some selected employees who have joined the bank after that date would be eligible for the ESOPs.
“The logic is to reward old employees for their seniority and association with the bank. For new employees who have taken a big career call by joining the bank, in some cases by taking a salary cut, it will be a sort of compensation for them,” the Dhanalakshmi Bank chief said.
