It said that the revised pay packet will be effective from July 1.
"The cabinet today (Thursday) approved the revision of the consolidated pay package of chairpersons and full-time members of regulatory bodies with effect from 01.07.2013. The revised pay package is: chairperson - Rs.4.5 lakh per month (without house and car) and full-time member - Rs.3.75 lakh per month (without house and car)," the release said.
It said the nine regulatory bodies where the revised consolidated pay package will apply are Insurance Regulatory Development Authority, Telecom Regulatory Authority of India, Central Electricity Regulatory Commission, Competition Commission of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority, Petroleum and Natural Gas Regulatory Board, Warehousing Development and Regulatory Authority and Airports Economic Regulatory Authority of India.
--IANS (Posted on 03-10-2013)