The Hindu Business Line : Dhanalakshmi Bank plans ESOP

To attract fresh talent and reward its employees based on their performance, Dhanalakshmi Bank is introducing an ESOP (employee stock option) scheme for its workforce. This would be the first such initiative from an old generation private sector bank. The board has approved the setting up of an Employee Trust and six per cent of the ESOP would be granted to the Trust. The Trust will act as the custodian and allot ESOPs in line with the recommendations of the Compensation Committee. The bank will fund the Trust. Dhanalakshmi Bank is confident of the ESOP scheme ushering in a performance-oriented culture. - C.J. Punnathara

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