POLICY ON CORPORATE SOCIAL RESPONSIBILITY

Transcription

1 POLICY ON CORPORATE SOCIAL RESPONSIBILITY RBL Bank Limited (Formerly: The Ratnakar Bank Limited) One Indiabulls Centre, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel (West), Mumbai

2 Table of Contents 1. SHORT TITLE & APPLICABILITY: CSR VISION STATEMENT & OBJECTIVE: RESOURCES & ALLOCATION OF FUNDS PLANNING Identification of Thrust Areas Evaluation IMPLEMENTATION: MONITORING AND FEEDBACK CONSTITUTION AND MEETING OF CSR COMMITTEE Constitution Meeting Role and responsibilities of CSR Committee OTHER COMMITTEES Steering Committee Working Committee GENERAL... 9 Annexure A Annexure- B Annexure- C... 12

3 1. SHORT TITLE & APPLICABILITY: 1.1. This policy, encompasses RBL Bank s philosophy for discharging its responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking socially useful programs for welfare and sustainable development of the community at large, is titled as the RBL Bank s CSR Policy This policy shall apply to all CSR initiatives and activities taken up at the various branches and offices of RBL Bank, for the benefit of different segments of the society, specifically the deprived, underprivileged and differently abled persons. 2. CSR VISION STATEMENT & OBJECTIVE: 2.1. In alignment with mission statement of RBL Bank, through its CSR Projects (as defined hereinafter), it will continue to enhance value creation in the society and in the community in which it operates, through its services, conduct and initiatives, so as to promote sustained growth for the society and community, in fulfillment of its role as a Socially Responsible Corporate The key objectives of RBL Bank s CSR Policy are to: Ensure an increased commitment at all levels in the organization to operate its business in an economically, socially and environmentally sustainable manner, while recognizing the interests of all its stakeholders Directly or indirectly take up programs that benefit communities at large and results, over a period of time, in enhancing the quality of life and economic wellbeing of the local populace Generate, through its CSR Projects, community goodwill for RBL Bank and help reinforce a positive & socially responsible image of RBL Bank as a corporate entity Encourage alignment with development goals related to gender sensitivity, skill enhancement, entrepreneurship development etc. 3. RESOURCES & ALLOCATION OF FUNDS 3.1 Every year a budget for CSR activities shall be decided by the Board on the recommendation of the CSR Committee. Such budget shall not be less than 2% of the average net profit made by RBL Bank during the three immediately preceding financial years.

4 3.2 The earmarked annual CSR budget will be transferred to the account called RBL Bank s CSR Fund 3.3 CSR Projects will be planned according to the budget allocation. 3.4 In exceptional circumstances percentage of budget allocation may be varied with the approval of the Board. 3.5 The allocation of funds for CSR Projects shall be decided by the CSR Committee. They may take into consideration the recommendation of the Steering Committee. 3.6 The surplus arising out of the CSR Projects shall not form part of the business profit of RBL Bank. 3.7 Project wise budget to be prepared and approved by the CSR Committee.The terms, conditions and timing of disbursement will be discussed and agreed to with the Steering committee, and will typically form part of the Memorandum of Understanding executed with the entity implementing the project. 4 PLANNING 4.1 Identification of Thrust Areas As a part of its CSR strategy, in line with the aims and objectives specified above, the following thrust areas have been identified: i. Promoting Education ii. Promoting health, including Preventive Health care iii. Promoting gender equality, women empowerment iv. Rural Development Project- Livelihood v. Any other activity as may be identified by the CSR Committee. The list is only indicative and does not restrict inclusion of additional/fresh activities under CSR. The details of the activities under the above mentioned sub heads are placed as Annexure A. 4.2 CSR Projects RBL Bank shall undertake following projects ( CSR Projects ): (i) Education Activities:

5 a. Academic education by way of financial assistance primarily to early child hood Primary, Middle and Higher Secondary Schools, and for higher education up to post-graduation. b. Help in skill training and development by participating in projects supported by National Skill Development Corporation (NSDC). c. Help in skill building of rural unemployed youths by supporting Krishi Vigyan Kendras (KVK), Industrial Training Institutes (ITI), and Farmers Service Societies (FSS). d. Support to Technical/Vocational Institutions for their self- development. e. Teach the girl child. f. Special attention on education, training and rehabilitation of mentally & physically challenged children/persons. Target Geography (ies): Maharashtra, Gujarat, Karnataka, Rajasthan, and North India including Jammu & Kashmir. Goal: To train and place in jobs 200 persons by 2017 (ii) Health Care Activities: a. Arrange health camps / to setup for eye care especially Retinopathy for Diabetic patients. b. Retinoblastoma Care- A form of eye cancer c. Blood donation camps with a focus on Thalassemia. d. Offering Senior Citizen Health Care. e. Offering home healthcare services and any other health care initiative from time to time. f. Reducing Infant Mortality and maternal mortality Target Geography (ies): Maharashtra Karnataka and National Capital Region (NCR) Goal: a. Cover patients in retinopathy by b. Cover 50 patients in Retinoblastoma by (iii) Promoting Gender Equality Activities: Women empowerment through education, skill building and trainings Promotion of women-based micro enterprises Target Geography (ies): Maharashtra, Karnataka and NCR Goal: Of the people trained and placed 25%- 40% should be women by 2020

6 (iv) Sustainable Livelihood Activities: To help develop livelihood opportunity by working on a. Water conservation, artificial recharge and productivity enhancement; b. Investing on improving farming techniques. c. Ensuring environmental sustainability d. Invest in rural development projects e. Promotion of art and culture for livelihood opportunities f. Vocational training and skill building for BFSI g. Development of allied income generation activities; Target Geography (ies): Maharashtra, Madhya Pradesh, Gujarat, Goa, Rajasthan, Kolkatta and NCR Goal: To provide Microfinance/access to capital. Livelihood opportunities created for 5000 by Evaluation CSR Projects will be undertaken within the defined ambit of the identified thrust areas. Such activities / programmes shall be identified on basis of need identification studies or internal need assessment or receipt of proposals/requests etc. On the advice of CSR Committee, RBL Bank shall undertake the projects in the thrust areas mentioned herein above. 5. IMPLEMENTATION: 5.1 Post evaluation, CSR Committee shall formulate the plan for efficient implementation of identified projects. Such Plan shall inter alia contain milestones and deadlines. 5.2 As per requirement, RBL Bank may engage specialized agencies / NGOs / Trusts / Government or Semi Government organizations / private agencies for any assignment, who have requisite expertise of carrying out the identified activities / programmes. RBL Bank may also collaborate with other companies for undertaking identified activities / programmes. 5.3 If it is observed that any CSR activity taken up for implementation is not properly implemented, RBL Bank at its discretion may discontinue funding the project at any time during the course of implementation. In such a case RBL Bank can re-look at funding any other alternate project that it deems to be fit for implementation along with the same agency.

7 6. MONITORING AND FEEDBACK 6.1. To ensure effective implementation of the CSR Projects undertaken, a monitoring mechanism will be put in place. The progress of CSR Projects under implementation will be reported to Steering Committee on a quarterly basis. 6.2 RBL Bank shall conduct impact studies on a periodic basis, through independent professional third parties/professional institutions, especially on the strategic and high value programmes and will also try to obtain feedback from beneficiaries about the programmes (as and when required for audit). 6.4 The progress report of CSR Projects under implementation in the format given in Annexure- B shall be placed before the Board on quarterly basis. 6.5 CSR initiatives of RBL Bank will also be reported in its Annual Report. 7. CONSTITUTION AND MEETING OF CSR COMMITTEE 7.1 Constitution CSR Committee shall consist of three or more directors of which at least one member should be an independent director and members of Steering Committee as permanent attendees. The Board, at its meeting held on February 21, 2014, had approved constitution of CSR Committee. 7.2 Meeting The Corporate Social Responsibility functions of RBL Bank will be coordinated and monitored by the CSR Committee for the successful implementation of RBL Bank s CSR Policy. The CSR Committee will meet at least once a quarter. 7.3 Role and responsibilities of CSR Committee The key roles and responsibilities of the CSR Committee would be to implement the CSR policy. Broadly the roles and responsibilities are the following: Formulation of broad guidelines for selection of the projects, planning, execution, monitoring and evaluation. Selection of projects in accordance with policy framework & guidelines. Finalization of annual budgetary requirement for each project along with the targets. Formulation of strategies for efficient implementation of projects. Periodic reporting of all CSR Projects, as required.

8 8. OTHER COMMITTEES 8.1 Steering Committee CSR Committee may establish a Steering Committee to assist the CSR Committee in discharging its responsibilities prescribed in this policy. Steering Committee shall comprise of at least two Management Committee members. The members of Steering Committee may be appointed/ changed from time to time by the CSR Committee. 8.2 Working Committee CSR Committee may also establish a Working Committee. Key responsibilities of Working Committee shall be as below: It shall build and put the policy framework in place in consultation with the under the guidance of the Steering committee. To oversee the progress of CSR Projects under implementation and report the same to Steering Committee To coordinate with different Central, State Government Departments and all other stakeholders including service providers for successful implementation of CSR Projects. To mobilize volunteers and facilitate the CSR activities in various states To provide recommendation regarding target group, geography and what sectors or issues it wishes to address. To provide recommendation on selection of the projects, planning, execution, monitoring and evaluation. Further, Working Committee shall be responsible for making recommendation to update the policy in the light of change in the applicable laws/rules/ guidelines. The members of Working Committee may be appointed/ changed from time to time by the MD & CEO of RBL Bank. The existing members of CSR Committee, Steering Committee and Working Committee are appended herewith as Annexure- C, for indicative purpose, which may be changed from time to time without referring to the Board as indicated in this document.

9 9. GENERAL 9.1 All CSR activities and expenses made thereon will be subject to audit 9.2 RBL Bank reserves the right to modify, cancel, add, or amend any of the above rules/guidelines. 9.3 Any or all provisions of the CSR policy shall be subject to revision/amendment in accordance with the applicable laws/rules/ guidelines on the subject, from time to time. 9.4 In case of any doubt with regard to any provision of the policy and also in respect of matters not covered herein, a reference to be made to CSR Committee. In all such matters, the interpretation and decision of the CSR Committee shall be final.

10 Annexure A List of activities that can be undertaken by RBL Bank under RBL Bank s CSR Policy. 1. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation and making available safe drinking water; 2. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects; 3. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups; 4. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water; 5. Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts; 6. Measures for the benefit of armed forces veterans, war widows and their dependents; 7. Training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports; 8. Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women; 9. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government; 10. Rural development projects.

11 Annexure- B Format of Progress Report Sr No CSR project/ activity identified Sector in which the project is covered Projects/Program mes 1. Local areas/others 2. Specify the state/district Amount outlay (budget) project/ programme wise Amount spent on the programme/projec t Subheads 1. Direct expenditure on projects Cumulative spend upto the reporting period Amount spent Direct through implementing agency 2. Over heads

12 Annexure- C CSR Committee Sl. No. Name 1. Mr. D. Sivanandhan Chairman 2. Mr. Jairaj Purandare Member 3. Mr. Girish Godbole Member 4. Mr. Vishwavir Ahuja Permanent Attendee 5. Ms. Shanta Vallury Gandhi Permanent Attendee Steering Committee Sl. No. Name 1. Mr. Vishwavir Ahuja Member 2. Ms. Shanta Vallury Gandhi Member Working Committee Sl. No. Name 1. Ms. Shanta Vallury Gandhi Chairperson 2. Mr. Mayur Satyavrat Alternate Chairman 3. Mr. Gyanandra Mishra Member 4. Mr. Amit Raman Kutty Member 5. Mr. Manoj Rawat Member 6. Mr. Ketan Lad Member 7 Ms. Sneha Senapati Member Secretary