November 28, 2017 / 10:30 AM / 2 months ago

Coal India to raise executive salaries at a cost of 8 billion rupees

NEW DELHI (Reuters) - Coal India Ltd, the world’s largest coal miner, will pay its executives about 8 billion rupees ($124.08 million) in salary rises retroactive from January this year, interim chairman Gopal Singh told Reuters.

The pay increase, which was approved by the board last week, comes over a month after the company approved a rise in the salaries of its workers, costing 56 billion rupees over five years.

The company employs more than 300,000 people, about 18,000 of whom are executives.

($1 = 64.4725 rupees)

Reporting by Sudarshan Varadhan

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