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CORPORATE GOVERNANCE- CODE OF CONDUCT (GENERAL MANAGERS)
I. Need and objective of the Code
Clause 49 of the Listing Agreement entered into with the Stock Exchanges, requires, as part of Corporate Governance, the listed entities to lay down a Code of Conduct for Directors on the Board of an entity and its Senior Management. Senior Management has been defined to include personnel who are members of its Core Management and functional heads excluding the Board of Directors.
Accordingly the Bank has laid down this Code for its Core Management (Core Management means top executives of the Bank at the level of General Managers).
II. Bank's belief system
This Code of Conduct attempts to set forth the guiding principles on which the Bank shall operate and conduct its daily business with its multitudinous stakeholders, government and regulatory agencies, media, and anyone else with whom it is connected. It recognises that the Bank is a trustee and custodian of public money and in order to fulfil its fiduciary obligations and responsibilities, it has to maintain and continue to enjoy the trust and confidence of public at large.
The Bank acknowledges the need to uphold the integrity of every transaction it enters into and believes that honesty and integrity in its internal conduct would be judged by its external behaviour. The Bank shall be committed in all its actions to the interest of the countries in which it operates. The Bank is conscious of the reputation it carries amongst its customers and public at large and shall endeavour to do all it can to sustain and improve upon the same in its discharge of obligations. The Bank shall continue to initiate policies, which are customer centric and which promote financial prudence.
III. Philosophy Of The Code
The Code envisages and expects -
A. adherence to the highest standards of honest and ethical conduct, including proper and ethical procedures in dealing with actual or apparent conflicts of interest between personal and professional relationships.
B. full, fair, accurate timely and meaningful disclosures in the periodic reports required to be filed by the Bank with government and regulatory agencies.
C. compliance with applicable laws, rules and regulations.
D. to address misuse or misapplication of the Bank's assets and resources.
E. the highest level of confidentiality and fair dealing within and outside the Bank.
A. General Standards of conduct
The Bank expects all members of the Core Management to exercise good judgement, to ensure the interests, safety and welfare of customers, employees, and other stakeholders and to maintain a co-operative, efficient, positive, harmonious and productive work environment and business organisation. The members of the Core Management while discharging duties of their office must act honestly and with due diligence. They are expected to act with that amount of utmost care and prudence, which an ordinary person is expected to take in his/her own business. These standards need to be applied while working in the premises of the Bank, at offsite locations where the business is being conducted whether in India or abroad, at Bank-sponsored business and social events, or at any other place where they act as representatives of the Bank.
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