Details of Familiarization programmes imparted to Independent directors

Familiarization Of Independent Directors

Regulation 25 (7) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015 require that Independent Directors should be familiarized with:

i.     Nature of the industry in which the company operates
ii.    Business model of the company
iii.   Roles, rights, responsibilities of independent directors, and
iv.   Other relevant information

A majority of the Directors of the Bank have been associated with the Bank for more than 3 years and have in depth understanding of the business model, business processes and business environment of the Bank. Each director has special knowledge and practical experience in various areas as required in terms of provisions of Section 10-A (2)(a) of the Banking Regulation Act, 1949. Familiarisation of Directors is an ongoing process. 
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The Independent Directors of the Bank routinely engage in one on one discussions with the senior management of the Bank on their matters of interest and for a better understanding of the various aspects of the Bank’s business and functioning.

During the year, at the Board / Committee meetings, presentations and deep dive sessions are made covering important areas of the Bank such as annual plans and strategies, compensation strategy, impact of inflation, non-financial risks, customer services framework, risk management, priority sector lending, liquidity, new regulatory guidelines, etc.