Yes, that's true. Most of the firms pay in that range. Now you will think that these people will earn 45/12 = 3.75lakhs per month. But that's not the truth.
The truth is the 45lakhs is CTC(Cost to Company).
The base salary lies somewhere between 12–15. And in the CTC all kinds of bonuses will be included. (ex: relocation bonus, a sign-on bonus which we get only once). And the rest will be stocks(which accounts for 30%–50% of CTC, and also for most of the companies it will span across 4 years, so you won't get them in the first year itself).
If you exclude stocks and some other bonuses like performance bonuses their salary will lie somewhere between14–22 LPA.