Strengthening the Governance Framework

We are dedicated to sustaining the premier quality of Governance in the supervision of business, and are continually striving to formulate enduring principles for all our shareholders. We have prioritised extensive compliance with laws and regulations that govern the business. We are focussed on nurturing the habit of “doing right first time’ through transparency, responsibility and moral conduct.

Defining Corporate Governance

Corporate governance is essentially a set of standards, systems and procedures aimed at effective, honest, transparent, and responsible management of a company, within the applicable statutory and regulatory structures. Good corporate governance practices help support and strengthen corporate actions for the realisation of the corporate objective.

The Bank’s principal corporate goal, like that of any corporate business entity, is to perpetuate its business, while protecting and enhancing, over the long term, the value of the interest of its shareholders.

Competence and Board Proficiency

The Bank’s Board of Directors consists of distinguished executives with variegated experience, and having command in Banking, Financial Markets, Risk Management, Regulatory Events, Finance, Credit, IT, Human Resource Management, Agriculture, Rural Economy, SSI and Law sectors/domains. The Board stimulates the advocacy of globally accepted principles in our operations. Transparency and accountability are among the key standards expected by our shareholders. We follow timely disclosures, as per norms from regulatory authorities, and unbiased presentation of facts and figures for our stakeholders. Compliance culture has been adopted by the Board and the senior leadership as the topmost priority.

Majority of the Directors of the Bank have been associated with the Bank for more than 5 years, and have in-depth understanding of the Bank’s business model, business processes and business environment. Each director has special knowledge and practical experience in various areas, as required in terms of the provision of section 10-A(2)(a) of the Banking Regulation Act, 1949.

During FY 2020-21, the Directors of the Bank were nominated for attending the following Certification Programmes:

Besides the Chairperson, Ms. Grace Koshie, Non-Executive Non-Independent Woman Director, the Board comprises seven Non-Executive Independent Directors including one Woman Independent Director and three Executive Directors.