Exorbitantly high salaries in the banking industry

Got to know from authentic sources their salaries in core banking roles ( not Infra tech ). They are exorbitantly high for tech individuals. I agree these people come with domain expertise which is crucial, but, we’re talking 60-70 LPA base for 5 YOE and mediocre tech knowledge ( ex: python is basically writing functions in a file )

What’s going on?