Corporate Governance is a system of rules, practices and processes by which a company is directed and run. It is about commitment to values, ethical business conduct, and contributions towards social causes and about considering all stakeholders’ interest in the conduct of its business.
Over the last few years, there have been several changes in the way Corporates run their operations, one there have been tighter regulatory regime, significantly enhancing responsibilities for the board of directors, independent director and are the growing presence of shareholders’ activism leading to building of environment of self-governance. Secondly, the cardinal principles such as independence, accountability, responsibility, transparency, fair and timely disclosures, credibility etc. serve as the means for implementing the philosophy of corporate governance in letter and spirit.
Company’s philosophy on corporate governance
AU believes in nurturing long term relationships and cheering an open dialog with all its key constituents and to be admired and inspirational financial institution, creating sustainable value for all stakeholders. Its philosophy of Corporate Governance is always aimed at value creation, keeping interest of all stakeholders protected in most inclusive way. AU also understands and respects its fiduciary role and responsibility towards its shareholders, customers, employees and bankers, developmental financial Institution and strives hard to meet their expectation.
We continuously focuses on upgrading its governance practices and systems to effectively meet the new challenges faced by the company
INDC’s Initiative for good Corporate Governance
Involvement and enthusiastic participation of Board of Directors and Committee’s thereof
Appropriate and timely checks through audits, conducted by Independent Auditors at various levels to ensure healthy governance practice
Implementation of Internal financial Control over financial Reporting
Separation of committee into Corporate Governance Committee and Nomination & Remuneration Committee
Codes and policies the govern the sound governance in the bank
Transparent and timely disclosure that ensure compliance with applicable statutory requirements
INDC FIRST is focused on to adhere with basic codes standards, simultaneously providing flexibility and accommodates new approaches and ideas that could be beneficial for the long term interests of stakeholders. Good Corporate Governance is now being recognized as a key management tool and a tool for socio economic development to enhance economic efficiency, growth and stakeholder confidence and company manages to be committed to values, ethics and contribution towards the social cause.
INDC Philosophy- Our value Enablers
CUSTOMER FOCUS : If our customers need it we will make it happen
WORK HARD AND LOOK FOR DETAILS: Willing to go the extra mile in everything we do and thoroughly understand customer needs, issues and organizational delivery model.
RESPONSIBLY ENTREPRENEURIAL: 100% ownership & accountability and 0% excuses
BIAS FOR ACTION: Urgency in everything we do.
INTEGRITY: We are fair and consistent in all our dealings, employees, customers, partners or shareholders.
NURTURE TALENT & SUCCEED TOGETHER: We nurture talent and together we are a great team working for common goals
As a part of good Corporate Governance, we have put in place various committees to oversee the efficient functioning of the bank:
CRISIL - Credit Rating Information Services of India Limited (A Standard & Poor's Company)
India Ratings - India Ratings (A 100% subsidiary of the Fitch Group)
ICRAICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) - An Associate of Moody's Investors Service
CARECredit Analysis & Research Ltd.
Note: Ratings by various agencies are subject to regular revisions. Kindly refer to the respective agencies for the latest ratings.
Leaders aren’t born every day.
They are nurtured with years of experience,
created every minute with the talent to recognise and tap on the given opportunities.
Are you a leader backed with years of experience and do you recognise this opportunity with the most promising retail bank of India?