The bank recognizes the need to conduct its business with integrity and in accordance with generally accepted corporate practice
The Audit Committee is chaired by a Non-Executive Director. The committee reviews all areas affecting operations of the bank. In addition, the committee deliberates on the significant findings arising from internal and external audits and gives feedback to the supervision department of the Central Bank.
The Risk and Compliance Committee is chaired by a Non-Executive Director. The committee reviews the risk and compliance reports presented to it by the respective departments. It also reviews the bank's exposures in line with the risk appetite and recommends remedial measures whenever necessary.
The Executive Committee is chaired by the Executive Director. The Committee reviews implementation of various projects and approves policies relating to operational areas. The Committee also ensures adherence to the strategic plan approved by the Board.
The Credit Committee is chaired by a Non-Executive Director and considers credit management from a credit perspective. The committee reviews credit portfolios as well as terms and conditions for all credit facilities granted by recommending actions where necessary. The Committee grants facilities falling under the jurisdiction of the committee and recommends proposals beyond the powers of the Committee to the Board for approval.
This Committee is chaired by the CEO. The Executive Director, the Chief Operating Officer, Chief Manager (Treasury), Deputy General Manager (Credit) and the Chief Finance Officer are the other members of the Committee.
This Committee approves the liquidity position of the bank and the compliance with regard to statutory liquidity ratio, cash reserve ratio and foreign exchange exposure as per the prudential guidelines of the Central Bank.
The Committee decides on investments in various securities to maximize the returns. It also analyses the interest rate risk and fixes the interest rates in line with the market trends.
The Board of Directors is responsible for the governance of the bank and to ensure that the bank complies with the law and the highest standards of corporate governance and business ethics. The Board is responsible for the long-term growth and profitability of the bank. The Directors guide the management and maintain full and effective control over financial, strategic, operational and compliance issues of the bank. The Board is chaired by a non-executive director and has nine other non-executive directors, and an executive director. The Board meets regularly and holds special meetings as and when the situation demands.
This Committee is chaired by a Non-Executive Director, whose responsibilities are periodically reviewed and assesses the health of the bank's credit portfolio and to take remedial measures for recovery and to ensure its adherence to ensure NPA is kept at a minimum.
The Operations Committee is a Management Committee chaired by the Chief Operating Officer. The Committee is charged with evaluating the bank's technical operational requirements in line with the ever changing customer needs.