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| Home > About Us > Secretarial Disclosures > General Code of Conduct and Ethics |
General Code of Conduct and Ethics |
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| Preamble:
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IDBI Bank
Ltd. is committed to creating long
term economic value for all its stakeholders,
including shareholders, depositors,
customers, employees and the society
as a whole. IDBI Bank Ltd. is committed
to maintaining high standards of ethical
and professional conduct in all its
corporate activities.
This Code of Conduct and Ethics outlines
the overall standards that shall guide
the actions of IDBI Bank Ltd. and its Directors,
officers and employees.
- National Interest:
IDBI Bank Ltd. shall continue to be
committed in all its actions to
benefit the economic development
of the nation and shall not engage
in any activity that would adversely
affect such objective.
- Financial Reporting and Records:
IDBI Bank Ltd. shall continue to prepare
and maintain its accounts fairly
and accurately in accordance with
the accounting and financial reporting
standards which represent the
generally accepted guidelines,
principles, standards, laws and
regulations of the country. Internal
accounting and audit procedures
shall fairly and accurately reflect
all of IDBI Bank Ltd. business transactions
and disposition of assets.
- Corporate Disclosure Practices:
IDBI Bank Ltd. shall continue to abide
by the corporate disclosure practices
as specified by the appropriate
external regulatory authorities.
- Competition:
IDBI Bank Ltd. shall market its products
and services on its own merits.
- Equal-Rights:
IDBI Bank Ltd shall continue to provide
equal opportunities to all its
employees and all qualified applicants
for employment without regard
to their race, caste, religion,
colour, ancestry, marital status,
sex, age, nationality, disability
etc. Applicable laws, rules, and
guidelines of Government of India /
any other Competent Authority
in this regard shall also be observed
for this purpose. Employees of
IDBI Bank Ltd. shall be treated with
dignity and in accordance with
the IDBI Bank Ltd. policy to maintain
a work environment free of sexual
harassment, whether physical,
verbal or psychological. Employee
policies and practices shall be
administered on a non-discriminatory
basis in all matters relating
to recruitment, training, compensation,
benefits, promotion, transfers
and all others terms and conditions
of employment.
- Prohibited Business:
IDBI Bank Ltd. shall not enter into
any kind of business with any
company / organisation / entity,
of which any of its director of
is a proprietor, partner, director,
a manager, employee or guarantor
or in which one or more directors
of IDBI Bank Ltd. together hold substantial
interest.
Substantial interest, in relation
to any company / organisation
/ entity, means any beneficial
interest held by one or more of
the directors of IDBI Bank Ltd. or
by any relative of such director,
whether singly or taken together,
in the shares of the company /
organisation / entity, the aggregate
amount paid up on which either
exceeds five lakh of rupees or
5% of its paid-up share capital,
whichever is lesser.
- Quality of Products and Services:
IDBI Bank Ltd. shall continue to be
committed to creating new industry
standards of excellence in customer
service. IDBI Bank Ltd. shall provide
innovative and superior quality
customer service consistent with
the requirements of the customers
for their satisfaction.
- Corporate Opportunity:
A Director / Officer / Employee
must not deprive IDBI Bank Ltd. of
an opportunity that belongs to
IDBI Bank Ltd., for his/ her own/other's
advantage, if he / she is in a position
of diverting the corporate opportunity
for own benefit or to others to
the detriment of IDBI Bank Ltd. A Director /
Officer / Employee must not compete
with IDBI Bank Ltd. in respect of any
business transaction.
- Health, Safety and Environment:
IDBI Bank Ltd. shall strive to provide
a safe and healthy working environment
at its work places and comply,
in the conduct of its business
affairs, with all regulations
regarding the preservation of
the environment of the territories
it operates in.
- Corporate Social Responsibility:
IDBI Bank Ltd. shall continue to be
committed to be a good corporate
citizen not only in compliance
with all relevant regulating laws
and regulations but also by actively
assisting in the improvement of
the quality of life of the people
in the communities in which it
operates with the objective of
making them self reliant.
- Public Representation of the
Company & the Group:
IDBI Bank Ltd. honours the information
requirements of the public and
its stakeholders. All its external
communication will be only by
officials / directors authorised
for the purpose.
The information for the public
constituents and stakeholders,
duly approved by the Compliance
Officer or other authorised official,
as the case may be, shall be disseminated
through any of the following media:
 The accredited newspaper publications;
Web casting on the official
web site;
Press handouts and press releases;
Audio and audio-visuals prepared
for the specific purpose.
- Use of IDBI Bank Ltd. Name Logo/
Trademarks:
A Director / Officer / Employee
shall not use the name of IDBI
Bank Ltd., its logo or trademark for
personal benefit or for the benefit
of persons / entities not forming
part of the IDBI Group.
- Shareholders:
IDBI Bank Ltd. is committed to enhance
shareholder value and shall comply
with all regulations and laws
that govern shareholders' rights.
The Board of Directors' of IDBI
Bank Ltd. shall duly and fairly inform
its shareholders about all relevant
aspects of the organisation business
and disclose such information
in accordance with the respective
regulations and agreements. Every
employee shall also be responsible
for implementation of and compliance
with this code.
- Ethical Standards:
A Director / Officer / Employee
of IDBI Bank Ltd. shall conduct all
the dealings on behalf of IDBI
Bank Ltd. with professionalism, honesty,
integrity and high moral and ethical
standards. Every Director / Officer /
Employee of IDBI Bank Ltd. shall be
responsible for the implementation
of and compliance with the Code
in his / her professional environment,
be fair and take action not to
discriminate, honour confidentiality
and strive to achieve more specific
professional responsibilities.
- Insider Trading:
Insider Trading involves the improper
use of non - public price sensitive
information when dealing in securities.
Specified employees are prohibited
from engaging in insider trading
as detailed in the Code of Conduct
for Prevention of Insider Trading.
- Conduct of Staff:
To uphold the image and dignity
of the institution, it is desirable
that every director / officer /
employee of IDBI Bank Ltd. should demonstrate
a high degree of conduct and integrity,
as under:
- a sense of fair play, impartiality
and promptness in disposing
of cases and show courtesy
and consideration in public
dealings;
- keeping in mind the objective
of IDBI Bank Ltd., to contribute
his / her mite through integrity,
dedication and competence;
- restrain from participating
or assisting in any activity,
which is detrimental to the
interest of IDBI Bank Ltd. or is
in competition to the interest
of IDBI Bank Ltd.;
- not use or influence by
virtue of the position held
in the bank for obtaining
favours ofany kind for himself /
herself or any members of
family or friends or equivalent
person with any constituent / borrower
/ client / customer;
- be cost conscious and plug
all wastes and leakages, to
remain competitive;
- not to be negligent or
show lack of devotion to duty
any time and
- not to show any favouritism
or commit any irregularity
in inviting tenders an awarding
contracts or cultivate too
much friendship with the Bank's
contractors / suppliers.
- Regulatory Compliance:
A Director / officer / employee
shall, in his business conduct,
comply with all applicable laws
and regulations.
- Securities Transactions and
Confidential Information:
A Director / officer / employee
of IDBI Bank Ltd. and their family
members shall not derive any benefit
or assist others to derive any
benefit from the access to and
possession of information about
IDBI Bank Ltd. which is not in the
public domain and thus constitutes
insider information. The Director /
officer / employee of IDBI Bank Ltd.
shall maintain confidentiality
of all price sensitive information.
Unpublished price sensitive information
would be disclosed only to those
within the company who need the
information to discharge their
duty.
- Conflict of Interest:
The Directors / officers / employees
of IDBI Bank Ltd. shall always conduct
themselves in an honest and ethical
manner and in the best interest
of the Bank. Towards this, the
directors, officers and employees
of IDBI Bank Ltd. shall endeavour to
avoid situations that may lead
to an actual or potential conflict
between person's private interest
and the interest of the Bank,
including its affiliates and subsidiaries.
While it may be difficult to list
all the situations of conflict
of interest, the following are
illustrative examples of some
of the situations, which may constitute
a Conflict of interest:
a Director/ officer/ employee
engages in any business, relationship
or activity which might detrimentally
conflict with the business of
IDBI Bank Ltd.
a Director / officer / employee
receives improper personal benefits
as a result of his official position
in IDBI Bank Ltd.
a Director / officer / employee
is in a position to make, influence
or benefit from the decisions
relating to the transaction.
If such and other instances of
conflict of interest exist due
to any historical reasons, adequate
disclosures by the interested
employees should be made to the
management.
- Gifts and Donations:
The Director / officer / employee
of IDBI Bank Ltd. shall not solicit
or accept any gifts /donations
of more than modest value from
a constituent of IDBI Bank Ltd. or
from any subordinate employee
or from existing / potential clients
or third parties having business
dealings with IDBI Bank Ltd.
- Gender Friendly Workplace:
As a good corporate citizen, IDBI
Bank Ltd. is committed to a gender
friendly workplace. IDBI Bank Ltd.
demands, demonstrates and promotes
professional behaviour and respectful
treatment of all employees.
- Prohibition against participation
in politics and standing for election:
No employee shall take an active
part in politics or in any political
demonstration, or stand for election
as member of a Municipal Council,
district Board or any other Local
Body or any Legislative Body.
- Protection of Bank's assets:
The assets of IDBI Bank Ltd. shall
not be misused but employed for
conducting the business for which
they are duly authorised.
- Ethics and Compliance Committee:
The Ethics and Compliance Committee
comprising few independent directors
of the Board, an Executive Director,
Chief Vigilance Officer of IDBI
Bank Ltd. and the Compliance Officer
and any other officer so nominated,
will oversee the compliance of
the Code of Conduct and Ethics.
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