Axis Bank Ltd will increase staff salaries between 4 per cent and 12 per cent from Oct. 1 based on performance, according to people with knowledge of the plans. About 76,000 employees of Mumbai based lender-paid bonuses to its staff, the people said, asking not to be identified because the matter is private. HDFC Bank Ltd has boosted salaries in April based on performance and also paid bonuses, other people with knowledge of the matter said. ICICI Bank Ltd., the second-biggest privately-held, gave about 80 per cent of its 100,000 employees a bonus and pay rise from July, according to different people aware of the plans. Most of the Indian employees are seeking to save costs as the coronavirus is expected to push soured assets to a two-decade high. Executives earning more than 2.5 million rupees ($34,109) at India’s fourth-largest private lender, Kotak Mahindra Bank Ltd., will take a 10 per cent salary cut, while senior management will take a 15 per cent reduction.