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EMPOWERING LIVES WITH ENRICHING RELATIONSHIPS

At Federal Bank, we embrace the powerful synergy between digital innovation and human connection. Our philosophy, ‘Digital at the Fore, Human at the Core’, encapsulates our belief in leveraging technology to enhance customer experiences, while recognising the irreplaceable value of personal interactions. We firmly understand that building and nurturing meaningful customer relationships lie at the heart of our success. People have always been key facilitators of our vision, and our Bank is committed to empowering them to deliver the best possible service.

As a customer-centric organisation, our Bank focusses on providing a seamless experience throughout the customer life cycle. We understand that each interaction is an opportunity to build trust and deepen customer relationships. By fostering a positive culture anchored on CARES value system, we hope to attract talented individuals across geographies and give them a platform to nurture their growth.

We have consistently upheld our belief of inclusivity by being an employer that offers equal opportunities to all. This ethos is deeply ingrained in our culture and has been a guiding principle since our inception. Our Bank’s unwavering commitment to gender diversity is not merely a fleeting trend but rather a natural extension of our belief in the potential and abilities of women.

41%

Women in the Workforce

24%

Branches Headed by Women

24

Number of States Hired From

370+

Number of Campuses Hired from across India

42%

New Women Hires

3.75%

Voluntary Exit Rate of Permanent Employees

Our commitment to nurturing diversity and inclusion across the organisation is evidenced by our exceptional efforts to promote equal opportunities and representation. With a female employee ratio above 41%, Federal Bank boasts one of the best diversity ratios in the industry.

Our commitment to fostering a diverse and inclusive work environment goes far beyond the initial onboarding process. Our Bank is committed to ensuring equal opportunities for women to progress in their careers. As a result of these efforts, numerous women have successfully taken up senior leadership positions within our organisation. At Federal Bank, we guarantee a discrimination-free workplace environment and in FY 2022-23, zero cases of discrimination were recorded.

Our Bank has been recognised for ‘Top 20 Most Innovative Practices - DivHERsity Hiring’ in the ‘AccelHERate & DivHERsity Awards 2023’. We are proud to be the only Commercial Bank in India to be recognised by ‘Great Place to Work’ among ‘Top 50 India’s Best WorkplacesTM - Building a Culture of Innovation by All’.

Some of the specific initiatives taken up by our Bank with regards to promoting diversity and inclusion include:
Our initiatives promoting women care and women empowerment:

Maternity Connect - Designed to Empower Expectant Mothers

Breast Cancer Screening Programme in association with CII IWN

Awareness Session by Ms. Vimala R, IAS, Commissioner - Women and Child Development, Government of Maharashtra on International Day for Elimination of Violence against Women

Women’s Day Special Fireside Chat on ‘Choosing to Lead’ with our Female Leaders

#WeTheWomen Event where talks were given on ‘Being the Boss, Women Mean Business’ and ‘Beyond Stereotypes, How Can Workspaces be Great for Women’

Voices of Women (VoW) - success stories of our women employees on LinkedIn and Yammer

Enrolment of Female Members of Senior Management for CII IWN (Indian Women Network) as a part of Women Mentoring Programme

Prevention of Sexual Harassment Team headed by Senior Women Employees to help female employees report incidences of harassment at office fearlessly

Honouring Motherhood through our Maternity Connect Programme

We foster a supportive maternity leave policy by granting a 6-month maternity leave, with the flexibility to extend it in case of medical emergencies or unfortunate or unforeseen instances. To further support expectant mothers, we have implemented the Maternity Connect programme, which offers various benefits like footrests and back supports, reserved parking spaces for their convenience.

A Maternity Work Buddy is assigned for expectant mothers to keep them informed about organisational updates during their leave. We also provide valuable resources through electronic direct mailers on topics like nutrition and motherhood advice. Additionally, our Smiles connects expectant mothers with expert advisors who offer guidance on pregnancy-related matters and post-partum support, as well as work-life balance advice. To celebrate their return, employees are greeted with Welcome Back Kits containing a heartfelt welcome letter, a bouquet, and a baby hamper.

Our Diverse Workforce

Employee Data
Categorisation FY 2022-23 FY 2021-22 FY 2020-21
Male Female Total Male Female Total Male Female Total
By Employee Category
Associates 2,742 2,317 5,059 2,847 2,369 5,216 2,951 2,407 5,358
Middle Management 4,309 3,006 7,315 3,891 2,655 6,546 3,844 2,453 6,297
Senior Management 749 225 974 730 204 934 675 181 856
Top Management 91 18 109 81 13 94 73 8 81
By Employee Contract
Permanent 7,730 5,376 13,106 7,502 5,139 12,641 7,543 5,049 12,592
Contract 161 190 351 47 102 149 0 0 0
By Employee Type
Full-time Employees (Headcount) 7,853 5,061 12,914 7,509 4,713 12,222 7,500 4,464 11,964
Part-time Employees (Headcount) 38 505 543 40 528 568 43 585 628
By Region
East 536 268 804 520 257 777 553 251 804
West 1,095 556 1,651 1,047 541 1,588 1,052 527 1,579
South 5,582 4,408 9,990 5,336 4,125 9,461 5,293 3,954 9,247
North 678 334 1,012 646 318 964 645 317 962
By Age
< 30 2,313 1,657 3,970 2,002 1,477 3,479 2,071 1,499 3,570
30-50 4731 3,208 7,939 4,551 3,037 7,588 4,295 2,833 7,128
> 50 847 701 1,548 996 727 1,723 1,177 717 1,894
Total 7,891 5,566 13,457 7,549 5,241 12,790 7,543 5,049 12,592

Our ‘Talent Strategy’ focusses on becoming India’s most admired banking institution and the First Choice for customers. We invest in finding and developing the right people to execute our vision and strategy.

Our talent acquisition strategy emphasises a strong employer brand, business competency linkage as well as modular and role-specific recruitment. We continuously assess our manpower needs, groom competent bankers, and attract top talent to align with our talent goals. We craft highly modular and role-specific talent models and actively seek out talent for a strong pipeline. Our diverse channels include campus hiring, volume hiring, experienced hiring, the Federal Internship Programme, and the Federal Integrated Programme.

Our emphasis on career growth, competitive compensation, positive work environment, strong leadership, and employee recognition contributes to our low turnover rates. We closely monitor attrition levels to assess our retention strategies and identify areas for enhancement.

By Category Total Number of New Employee Hires Rate of New Employee Hire (in %) Total Number of New Employee Hires Leaving the Organisation
Male Female Total Male Female Total Male Female Total
Associates 128 118 246 4.7% 5.1% 4.9% 11 5 16
Middle Management 806 551 1,357 18.7% 18.3% 18.6% 49 34 83
Senior Management 8 1 9 1.1% 0.4% 0.9% 0 0 0
Top Management 3 1 4 3.3% 5.6% 3.7% 0 0 0
By Category Total Employee Turnover Rate of Employee Turnover (in %)
Male Female Total Male Female Total
Associates 144 104 248 5.3% 4.5% 4.9%
Middle Management 357 230 587 8.3% 7.7% 8%
Senior Management 89 10 99 11.9% 4.4% 10.2%
Top Management 14 1 15 15.4% 5.6% 13.8%
By Region Total Number of New Employee Hires Rate of New Employee Hire (in %) Total Number of New Employee Hires Leaving the Organisation
Male Female Total Male Female Total Male Female Total
East 52 26 78 9.7% 9.7% 9.7% 2 0 2
West 278 141 419 25.4% 25.4% 25.4% 26 20 46
South 544 460 1,004 9.7% 10.4% 10.1% 28 19 47
North 71 44 115 10.5% 13.2% 11.4% 4 0 4
By Region Total Employee Turnover Rate of Employee Turnover (in %)
Male Female Total Male Female Total
East 30 13 43 5.6% 4.9% 5.3%
west 118 68 186 10.8% 12.2% 11.3%
South 408 237 645 7.3% 5.4% 6.5%
North 48 27 75 7.1% 8.1% 7.4%
By Age Total Number of New Employee Hires Rate of New Employee Hire (in %) Total Number of New Employee Hires Leaving the Organisation
Male Female Total Male Female Total Male Female Total
<30 844 629 1,473 36.5% 38% 37.1% 55 35 90
30-50 100 42 142 2.1% 1.3% 1.8% 5 4 9
>50 1 - 1 0.1% 0% 0.1% 0 0 0
By Age Total Employee Turnover Rate of Employee Turnover (in %)
Male Female Total Male Female Total
<30 232 175 407 10% 10.6% 10.3%
30-50 137 80 217 2.9% 2.5% 2.7%
>50 235 90 325 27.7% 12.8% 21%
Total Number of New Employee Hires Rate of New Employee Hire (in %) Total Number of New Employee Hires Leaving the Organisation
Male Female Total Male Female Total Male Female Total
945 671 1,616 11.98% 12.06% 12.01% 60 39 99
Total Employee Turnover Rate of Employee Turnover (in %)
Male Female Total Male Female Total
604 345 949 7.65% 6.20% 7.05%

Note: Turnover includes number of employees who leave the organisation voluntarily (resignation, and VRS, among others.) or involuntarily (dismissal, retirement, or death in service). Turnover rates are computed as a percentage of total employees as at the year end. 

Voluntary Exits during the reporting period

By Employee Category
By Region
By Age

Average Employee Remuneration

(in ₹ Lakh)

By Employee Category
By Employee Contract
By Employee Type
By Region
By Age
Note: We do not discriminate remuneration based on gender, region, or age. The difference in remuneration is mainly on account of various factors such as average number in different Scale/Cadre, and seniority in service.

At Federal Bank, we deeply care about the well-being of our employees. We emphasise maintaining open and regular communication channels with our staff, ensuring that their needs and concerns are always acknowledged and resolved. Our employee engagement initiatives are thoughtfully crafted to foster an environment of transparency, honesty, and mutual trust, where employees feel comfortable and empowered to express themselves freely.

We have established several platforms that promote interaction between our top Management and widespread employee base. Through these platforms, top Management, including the MD & CEO, regularly communicates with the entire team to ensure everyone is aligned with the organisation’s vision and goals.

  • Federal Bank has introduced Pulse, an employee engagement app, that seamlessly integrates with our core Human Resource Management system. This app has features that help enhancing employee well-being, provide various self-service options for driving engagement and connect Effectively while promoting a healthy work-life balance.
  • Our Bank has partnered with external agencies to provide professional employee assistance services to support employees encountering stress and other personal or professional challenges. As part of our commitment to employee wellness, we organise regular wellness webinars led by a team of mindfulness experts, thus promoting holistic well-being.
  • Our Bank conducts regular townhall meetings to highlight the top-performing units, thereby recognising and appreciating employees’ hard work and dedication. With a primary focus on customer service, these townhall meetings provide a platform for acknowledging and rewarding employees who consistently add value to customers’ experiences.

Additionally, we conduct interactive sessions with our employees for their overall and personal development, which include the following:

  • Special Edition Masterclass for our employees was conducted by Ms. Sajitha Rasheed on the topic ‘Happy Children’ to inculcate parental skills in our employees
  • On the International Day for Preservation of Ozone Layer, we held an exclusive live webinar by Ms. Mohua Mukherjee on the topic ‘Let’s Make Our Planet Habitable for the Next Generations’
  • Our Employee Volunteering ‘Sunshine’ Program focusses on opportunities to the employees, thereby providing an opportunity to illustrate the core organisational ethos into action

Furthermore, our Bank has implemented a range of initiatives that highlight and celebrate the ‘beyond-work’ achievements of our top performers. By recognising employees who have excelled in their area of expertise, these initiatives help maintain motivation and encourage all employees to perform at their best.

  • The Federal Sports League, conducted across various zones, features a range of sports activities, including cricket, badminton, and football, amongst others. The League has been a tremendous success, with employees from all zones enthusiastically participating in various sporting events
  • Our Bank encourages employees to showcase their talents in various cultural and creative initiatives. One such example is the ‘Sony Corporate Photography Contest’, which saw widespread participation from employees across India, including one entry bagging an award. Another example is the launch of a book titled ‘The Nord’ authored by one of our employees at the ‘#WeTheWomen’ event
  • Our Bank was recognised for the highest women participation at the ‘TCS Fit4Life Corporate Challenge’, a pan-India virtual run in April 2022

We recognise that our Bank’s success depends on our workforce’s dedication and commitment. Thus, we have implemented a robust Employee and Worker Relation Management mechanism to foster a positive and productive work environment.

Sufficient notice is published on our Bank’s intranet platform, digital communication channels, and internal journal to inform all employees of the implementation of significant operational changes that could substantially affect them. We conduct townhall meetings periodically to engage with employees. We recognise the right to freedom of association and collective bargaining. We have people representatives to address employees’ concerns and issues. We have an Association for Officer (permitted members are Officers up to Scale III) and a Union for members of Award Staff.

Category FY 2022-23 FY 2021-22
Total Employees in Respective Categories (A) No. of Employees/ Workers in Respective Categories who are Part of Associations or Union (B) % (B/A) Total Employees/ Workers in Respective Categories (C) No. of Employees/ Workers in Respective Categories who are Part of Associations or Union (D) % (D/C)
Total Permanent Employees 13,106 10,137 77.35 12,641 10,043 79.45
Male 7,730 5,700 73.74 7,502 5,697 75.94
Female 5,376 4,437 82.53 5,139 4,346 84.57

Health and Safety

At Federal Bank, we understand the critical role of workplace health and safety in maximising organisational effectiveness. We have implemented a robust SOP on Health and Safety, providing a comprehensive framework for managing risks. Our unwavering commitment is to ensure the well-being of our employees, contractors, and visitors, minimising health and safety hazards. We continually strive to enhance safety measures, eliminate workplace injuries and illnesses, and promote a safe working environment. Moreover, our Business Continuity Management Policy prioritises employee safety as one of its key objectives. We have established emergency response procedures and detailed SOPs to address various contingencies such as fires, floods, earthquakes, and other emergencies.

Yes
No
Standard Benefits Provided Group Term Life Insurance Medical Insurance Disability Ex: Cab Facility Maternity Benefits Paternity Benefits Day Care Facilities Retirement Provision
Full-time employee
Part-time employee
Maternity Leave
Paternity Leave

At Federal Bank, we firmly prioritise employee learning and development as a cornerstone of our success. We recognise that a skilled and knowledgeable workforce is crucial to achieving our strategic goals and maintaining our competitive edge in the market. To this end, our Bank is committed to providing employees with the resources and support they need to accelerate their learning and development.

51,164

Number of Trainees

3.9 Lakh

Total Person-hours

12,319

Unique Employees Trained

29

Average Training Hours per Employee

Some of the initiatives conducted to foster the learning and development of employees are as follows:

  • We have recently launched our state-of-the-art Federal Academy of Career Excellence (FACE) training facility. This facility is equipped with the latest technology and infrastructure, enabling us to connect remotely with all our branches
  • Our Bank has leveraged the support of in-house functional experts and internally empanelled cluster trainers. Working in tandem, the faculty team at FACE, delivers custom-curated, role-specific functional training programmes for various job roles, ensuring that employees receive the necessary training regardless of their location
  • Our Bank identifies and nominates employees to participate in training programmes conducted by IDRBT, CRISIL, CAFRAL, IIMs and other renowned universities, both in India and abroad
  • Our Bank has partnered with Coursera Learning to offer self-paced e-learning programmes for our employees. Our Bank’s Learning and Development (L&D) strategy has driven business and individual growth, as evidenced by our officers’ 99% active participation rate in these programmes
  • Our Bank has introduced a monthly Webinar Series, DAKSHA, featuring prominent industrialists, academicians, and thought leaders as guest speakers. The series has gained immense participation, providing employees with a valuable platform to stay updated on the latest industry developments and emerging trends
  • We have conducted multiple training interventions such as comprehensive induction programmes for all new joiners, regular refresher programmes, skill upgrading for different job roles, leadership training, coaching programmes, and training for employees nearing retirement

Adopting the Digital Way

We are on a transformative digital journey to enhance learning for our employees. Our state-of-the-art training facility, FACE, enables live telecast of sessions, ensuring easy access for all branches. Our e-learning modules are designed with features including graphics, interactive quizzes, and simulations, to provide an immersive learning experience.

In addition, we are incorporating augmented reality to simulate real-life branch processes. Through our MOOCs partnership, we offer access to latest learning programmes. Our approach utilises masterclasses, webinars, and podcasts, fostering an interactive and enriching learning environment.

Learning and Development Opportunities for Employees

Category of Employees Total No. of Employees No. of Hours of Training per Category Average Hours of Training per Year per Employee
Male Female Total Male Female Total Male Female Total
Associates 2,742 2,317 5,059 19,111 19,363 38,473 6.97 8.36 7.60
Middle Management 4,309 3,006 7,315 1,88,478 1,23,402 3,11,880 43.74 41.05 42.64
Senior Management 749 225 974 29,551.60 9,528.34 39,080 39.45 42.35 40.12
Top Management 91 18 109 2,904.38 587.75 3,492 31.92 32.65 32.04
Total 7,891 5,566 13,457 2,40,044 1,52,881 3,92,925 30.42 27.47 29.20

Performance and Career Development Review

Male
Female
Female

At Federal Bank, we uphold human rights principles and provide comprehensive training to our employees. We educate our staff about human rights, diversity, and inclusion through regular training programmes. We emphasise respecting and promoting equal opportunities for all individuals, fostering a workplace culture that values and upholds human rights principles in every aspect of our operations. Adherence to our Code of Ethics and Business Conduct ensures that the highest ethical standards and respect for human rights are maintained.

Training Related to Human Rights Policies and Procedures

Employees
Permanent Other than Permanent Total Employees
Total (A) 13,106 351 13,457
No. of Employees/Workers Covered (B) 7,959 - 7,959
% (B/A) 60.73 - 59.14

At Federal Bank, we recognise the increasing digital orientation of modern customers; however, we firmly believe in the significance of driving purposeful engagements with those we serve. In response, we have taken proactive steps in recent years to create several verticals in areas where our expertise may have been limited earlier. These strategic verticals are meticulously designed to foster effective interactions and provide services beyond customer expectations.

Furthermore, our Bank has implemented a comprehensive succession planning process. This process identifies and nurtures talented individuals capable of navigating changing business environments and unforeseen challenges. Our Bank’s dedicated efforts towards developing our valuable human resources have positioned us to deliver enduring value for years to come.

For us at Federal Bank, Corporate Social Responsibility has been an inherited and inbuilt element from the day of our foundation. Even though the nature of our business does not cause any negative impact on the local community, we have an ideology that a business is bound to uplift the communities it operates within.

Federal Bank Hormis Memorial Foundation, a special purpose vehicle set up by our Bank in 1996, implements the CSR activities of our Bank. Starting with the first act of cultivating banking habits in an agrarian society, our Bank has designed long-term, meaningful impact initiatives in areas of Health, Education, Women Empowerment, Environment Sustainability, and others permitted by Schedule VII of the Companies Act, 2013.

Our Bank, as a responsible institution, upholds our commitment to prioritising the welfare of society in all our endeavours. To ensure this, we have established a CSR policy that aligns our activities with sustainable social welfare objectives.

The CSR Policy of Federal Bank provides a comprehensive outline of our CSR Vision, the Committee responsible for overseeing CSR projects and activities. All our CSR endeavours are carried out in accordance with applicable laws and regulations, as directed by the Board of Directors. The CSR Committee, formed within the framework of the Governing Act, formulates, and recommends the CSR policy.

To ensure effective implementation, we have established a dedicated CSR Department, which coordinates, monitors, ensures compliance, conducts inspections, and reports back to the Committee, thereby ensuring that the intended beneficiaries receive the full benefits of these initiatives. In addition to the CSR initiatives, our endeavours support local suppliers to procure consumables from local surrounding areas to the branches.

17th KP Hormis Commemorative Lecture

The Federal Bank Hormis Memorial Foundation was established in 1996 to honour the cherished memory of our founder, Late Sri K P Hormis. Each year, remembering our beloved founder, the foundation organises a commemorative lecture featuring distinguished personalities. Our past speakers have included notable figures such as Dr. Shashi Tharoor, Dr. G Madhavan Nair, Mr. P Chidambaram, Mr. Arun Jaitley, Mr. N R Narayana Murthy, Mr. M Damodaran, Mr. V Leeladhar, Dr. V Kurien, Mr. Montek Singh Ahluwalia, Mr. M M Jacob, Mr. S Venkitaraman, Mr. Arun Shourie, Dr. Raghuram Rajan, Mr. Arvind Subramanian, and Mr. Viral V Acharya.

The 17th KP Hormis Commemorative Lecture was delivered by Mr. Shaktikanta Das, Governor of the Reserve Bank of India, at the Grand Hyatt Convention Centre in Kochi on March 17, 2023. Stakeholders from various sectors of society attended the event.

₹ 27,89,03,934 Invested

For a Brighter Future of Society in Accordance with the CSR Policy of our Bank

Amount (in ₹) Impact of the Investment
20,55,24,611

Promoting Education

  • Federal Bank Hormis Memorial Foundation Scholarships: Elevating the next generation to create a sustainable future
  • Federal Skill Academies: Uplifting the skilling arena of India
  • Support to schools, libraries and educational institutions
3,15,30,542

Supporting Charitable Institutions/NGOs Providing Medical Aid

  • Provision to ensure availability of ambulances, medical equipment like dialysis machines, and infrastructural supports, among others, to support communities
26,46,960

Assisting Shelter Expenses

  • Infrastructural upliftment of society by developing housing, learning centres, bus stops, and hospital labour rooms
4,81,250

Helping with Food Expenses

  • Support underprivileged destitute homes, and families through meals, food kits and groceries to fight hunger
3,87,20,571
  • Encouraging digitisation
  • Affordable and clean energy solutions
  • Sports
  • Environmental sustainability
  • Swatch Bharat Mission
  • Healthcare

Speak for India

Empowering Youth

Federal Bank Hormis Memorial Foundation Scholarships

Supporting Meritorious Students to Pursue Professional/Nursing Courses

Project Thulir

Creating Livelihood for Differently Abled Women of Tamil Nadu in Association with United Way of Chennai

Random Act of Kindness

Founders Day Programme 2022-CSR Initiatives Aligned to UN SDGs

SEED

Student Empowerment for Environmental Development

Swayam Shakthi

Remedial Education to Girl Child

DREAM

Drug Rehabilitation Education and Mentoring

Employee Volunteering in FY 2022-23

  • In association with the Indian Red Cross Blood Centre, our Bank arranged a blood donation camp for our employees during our Mumbai Fort Branch’s 50th Anniversary Celebrations. More than 75 bags of donated blood were collected, thus supporting healthcare organisations in saving lives
  • 100 saplings were planted at Vashi by our employees in collaboration with SankalpTaru Foundation to celebrate the 50th Anniversary of the iconic Mumbai Fort Branch and 25th Anniversary of the Vile Parle Branch
  • Our employees voluntarily donated clothes to the Goonj organisation that recycles used clothes into handicrafts and provides job, especially to women. It contributes to lowering waste generation, while alleviating poverty and developing rural areas
  • A comprehensive Bird Census at Kazhuveli and Ossudu Sanctuaries was carried out by our employees in collaboration with Tamil Nadu Forest Department, highlighting the region’s native bird species. A co-branded wall calendar featuring diverse bird species from Kazhuveli Sanctuary was launched by Supriya Sahu, the Additional Chief Secretary for Environment, Climate Change & Forests
  • Our Chennai Zonal Office cultivates a variety of leafy greens and medicinal herbs including lettuce, spinach, coriander, basil, and mint through hydroponic farming

At Federal Bank, we actively support India’s Central and State Government-sponsored credit schemes. Our goal is to foster financial inclusion and drive economic growth across the nation. Through transparent processes and simplified documentation, we facilitate seamless access to credit for deserving beneficiaries.

Active Loans and Outstanding Balances of the Government Schemes Supported:

Scheme Active Loans Outstanding Balances (₹ in Crore)
Pradhan Mantri Mudra Yojana (PMMY) 4,642 117.74
Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM) 339 4.33
Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) 139 6.06
PM Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) 743 0.63
Prime Minister’s Employment Generation Programme (PMEGP) 3,108 82.71
Lending to Self Help Groups (SHGs) and Joint Liability Groups (JLGs) 3,57,037 1,210.36