Professional Documents
Culture Documents
FinalGroup1 Blca Secb Corporatecitizenship
FinalGroup1 Blca Secb Corporatecitizenship
Group 1
Laxmipriya|Mukul|Anish|Rohit|Sameer
Corporate Citizenship
Corporate citizenship is the obligation of a
• The concept of materiality in corporate citizenship is the idea that businesses should focus their efforts on
tackling the environmental, social, and governance (ESG) issues that are most relevant to their business
operations and have the greatest impact on their stakeholders. Materiality helps firms prioritize ESG
initiatives, allocate resources, and improve their overall sustainability performance.
• Materiality is important when considering banks because of their significant influence on the economy,
society, and environment. Banks are in charge of maintaining the financial assets of their customers, investing
in various economic sectors, and offering loans to both businesses and private individuals. Because of this,
banks must consider the important ESG issues that could affect their financial performance, reputation, and
stakeholder relationships
Key Activities
• Our overall diversity stood at 24.6% as of March 2022 while the hiring
diversity was 27.6% 10,673 women were hired during
Waste management initiatives in Axis Bank offices 31.29 tonnes of wet and
dry waste processed from 13 large offices across India 83.12 tonnes of e-
waste responsibly disposed
• The board comprises of 72% independent directors. • Board of directors comprises of non-Executive directors and
Representation Board committees.
• Three women directors are on the board.
• Three women directors are on the board.
The Chief Risk Officer (CRO) operates independently from the
• HDFC Bank's leadership team is responsible for making key decisions • business lines and plays an active role in critical decision-
regarding the bank's operations, policies, and strategies. making processes that affect the Bank's risk profile.
• The Asset Liability Committee (ALCO) is a decision-making unit
Decision making responsible for implementing the liquidity and interest rate risk Additionally, the CRO attends Risk Management Committee
& leadership management strategy. (RMC) meetings without the presence of Bank executives.
Risk Management Group (RMG) at the Bank oversees putting the • Their vision for 2025 is to transform their engineering
practices and enable back-office processes with automation
Board's risk strategy into action. for higher efficiency.
• Risk management is governed by the Board
• HDFC Bank encourages active participation from all stakeholders, • Operational Risk Management Committee (ORMC), and
Participation including customers, shareholders, employees, and communities. Information Systems Security Committee (ISSC) are
responsible for overseeing risk management.
• The bank has a complaints mechanism to address grievances raised by
communities, investors, shareholders, employees, customers, value
Transparency chain partners, and other third-party employees. • Axis Bank has a Whistleblower policy that has been approved
by its Board.
• The bank has formulated a Code of Practices and procedures for fair
disclosures.
• The bank has created an auditor system that assesses the risk
of significant errors or fraud in the Standalone Financial
• The bank seeks to provide timely and effective solutions to their Statements.
Responsiveness problems and queries. They then perform audit procedures to address those risks
and gather sufficient and relevant evidence to form their
opinion.
Concept of Governance
Parameters HDFC Axis
• Customer focus: Strong emphasis on customer service
and satisfaction and works to understand the evolving
• Employee development: A great deal of emphasis on
needs and preferences of its customers.
employee development and training, recognizing that its
employees are the key to its success. • Innovation: The bank encourages a culture of
Consensus innovation and creativity and invests in new
orientation • Continuous improvement: Bank is committed to continuous
technologies to enhance its products and services.
improvement and strives to constantly enhance its products Ethical and responsible behavior: High standards of
and services, processes, and customer experiences. •
ethical and responsible behavior and strives to maintain
the trust and confidence of its stakeholders.
• The bank promotes a work culture where everyone feels
included, respected, and valued and has access to equal • Axis Bank promotes equity through its employment
opportunity. practices.
Equity Women employee as a percentage of the total is 21.7% Women employees as a percentage of the total are
• •
(1,41,579 total workforce) 11% women in senior management 24.7%. (85500)
and 14% in junior and middle management.
• HDFC Bank has installed 55 Air Handling Units (AHUs) at their
Kanjurmarg location, and they are planning to replace all • The goal from top management is to develop top-notch
Effectiveness blowers to EC Fan by FY23. digital skills that can enhance operational efficiency,
and efficiency • The bank is also implementing an ambitious tree plantation provide excellent customer service, and boost
program under which they have planted over 17 Lakh trees so productivity in the industry.
far.
• The Bank has constituted a Fraud Monitoring Committee • The Whistleblower Committee provides an avenue for
Accountability exclusively dedicated to the monitoring and following up of stakeholders to raise serious concerns without fear of
cases of fraud involving amounts of 1 crore and above. retaliation or revenge.
Expert Interview-
Citizenship for Banks
• Banks need to invest in green energy and provide credit
to traditionally excluded groups.
• In our study, we have found that for banking sector aspects such as Risk Control Measures for fraud and
money laundering, Regulatory compliances & ethical business practices, Customer data privacy & Security,
Transparency, accountability and disclosures to stakeholders, corporate ethics and Governance, Employee
welfare are of material importance. However, different banks prioritize different aspects as per their business
plan.
THANK YOU