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Coimbatore May 10 The Thrissur-based South Indian Bank has decided to introduce a performance-based incentive scheme for all its staff members. The bank has formed a committee of the board to implement the scheme.

In a notification to the NSE, the bank said that its board of directors, at a meeting held on April 23, had given its in-principle approval to introduce a `Performance Incentive Scheme' for all the bank staff.

It would be based on certain parameters specified by the board and for which `key responsibility areas' have been identified for the staff to become eligible for the incentive.

The South Indian Bank Board has constituted a committee known as `Remuneration Committee', with Mr Davy K. Manavalan as Chairman and Mr G.A. Shenai, Mr A.S. Narayanamoorthy and Dr John Joseph as members.

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