At Kotak, we believe in growth that goes beyond numbers. The kind that includes everyone. The only kind that lasts. And so, we focus on doing what’s right. For our stakeholders. For the planet. And for society at large.
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The Bank's philosophy of corporate governance goes beyond a set of policies and practices to promote it as an integral element of Kotak's culture. The robust corporate governance framework of the Bank guides the organisation's efforts to conduct business in an ethical, responsible and transparent manner. Details on KMBL's corporate governance structure and standards can be found in the 'Report on Corporate Governance' section in our latest annual report. The Corporate Social Responsibility (CSR) performance is reviewed by the Bank's Board at Board Meetings. In FY 2013-14, KMBL and its subsidiaries reviewed its Policy Statement on CSR to strengthen it in accordance with Section 135 and Schedule VII requirements of Companies Act, 2013. Further, the Bank established a CSR Committee to strategically guide it in effective implementation of its Policy Statement on Corporate Social Responsibility. The CSR Committee comprises of one independent director and two whole time directors.
In 1985, as a young 26-year old entrepreneur, Uday Kotak started Kotak Capital Management Finance Ltd. (which later became Kotak Mahindra Finance Ltd). The vision was to eventually become a banking company. Private Indian banks were not even a speck on the horizon at that time. On 22nd March 2003, Kotak Mahindra Finance Ltd. became the first non-banking financial company (NBFC) in India's corporate history to be converted into a bank.
Kotak Mahindra Bank Ltd. (KMBL) is regarded as one of the most efficient and high-performing banks in India, built on the principles of simplicity and prudence. Uday remains unfazed by market euphoria and his 'basics of banking' approach has ensured that the loan book is of high quality and the bank is well-capitalised. In a journey spanning nearly three decades, the company has grown both in scale and in stature under his leadership.
Today, the Kotak Mahindra Group, a first-generation enterprise with revenue of US$ 2.8 billion, has a global presence, employs over 30,000 people and is recognised as one of the leading employers in India. It has the distinction of providing a 48% CAGR to its shareholders over a 29 year period. The core of the business model is 'concentrated India, diversified financial services'.
Uday has a strong focus on community development and inclusive growth which is reflected by the group's initiatives to provide low-cost services to rural customers and its welfare programmes. He strongly feels that education is key to the alleviation of the social malaise afflicting India's under-privileged. In a bid to address this issue, he has established the Kotak Education Foundation, which focuses on the educational needs of underprivileged children.
Uday holds a Bachelor's degree in Commerce and an MBA from Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai.
Dipak Gupta has been with the Kotak Mahindra Group for over two decades. In October 1999, he was appointed Executive Director of Kotak Mahindra Finance Limited (now Kotak Mahindra Bank Limited). Since May 2016, he has been heading the Group Treasury, Wealth Management and Asset Reconstruction business of the Bank, and overseeing the Alternative Investments business of Kotak Mahindra Group.
Dipak is part of the Bank's Management Committee (MANCOM) and Operating Management Committee (OMANCOM) that drives the Kotak Group's growth charter.
With over 30 years of experience, he has played a key role in building various businesses for the group. Dipak was instrumental in the collaboration of Kotak Mahindra with Ford Credit International to form Kotak Mahindra Primus Limited (KMPL), of which he was the first CEO. He was also responsible for setting up the retail businesses after the conversion of KMFL into a Bank. Before joining Kotak, Dipak worked in the consultancy division of A.F. Fergusson.
He is a graduate in Electronics Engineering from IIT, Varanasi and a postgraduate in Management from the Indian Institute of Management, Ahmedabad (IIM-A).
Joint Managing Director
C. Jayaram is a Non-Executive Non-Independent Director on the Board of Kotak Mahindra Bank with effect from May 1, 2016. He is Chairman of the Bank's Board CSR Committee and also a member of the Audit Committee of Kotak Mahindra Asset Management Company Limited.
On attaining the age of superannuation, Jayaram retired as Joint Managing Director of the Bank in April, 2016. He was a part of the Kotak Mahindra Group for over 26 years. Before his retirement, he headed the Wealth Management business, International Operations, Marketing and Corporate Social Responsibility functions. He also oversaw the Alternative Investments business which includes private equity funds and real estate funds, as well as the Institutional Equities business.
With over 38 years of experience in finance and business, Jayaram was instrumental in building numerous businesses for the Kotak Mahindra Group, and has headed Kotak Securities Ltd. as CEO in the past. He also played a crucial role in setting up the car finance business.
He is an alumnus of Indian Institute of Management, Calcutta (IIMC).
Non-Executive Non-Independent Director
After working with the Kotak Mahindra Group for over two decades, Shivaji Dam, who was the first employee of the firm, retired in 2004 to start a new innings in Corporate Social Responsibility. Today, he spearheads Kotak Education Foundation's (KEF) various initiatives focusing on students and youth from underprivileged families.
Over the years, Shivaji has developed initiatives to aid students and youth in different areas of education and livelihood training. The organisation has supported several children from Below Poverty Line (BPL) families through direct and indirect interventions, and a holistic module, so they can lead a dignified life.
Shivaji's association with the Kotak Mahindra Group began in 1985. During his tenure, he played an important role in the growth of the group, making it one of the leading financial services companies in India. Shivaji was a Whole Time Director of Kotak Mahindra Bank for nearly eight years, and also the first Managing Director of Kotak Mahindra Old Mutual Life Insurance for four years. He was instrumental in setting up the life insurance business and establishing the partnership with Old Mutual.
Shivaji is a commerce graduate (BU), Chartered Accountant (CA), Company Secretary (CS) and Cost Accountant (CWA).
Rohit Rao is among India's leading Communications and Outreach professionals, with nearly three decades of experience spanning Banking, Business Journalism, PR, Corporate Communications, CSR, Environmental Social Governance (ESG) practice, and Carbon Disclosure Project (CDP) and triple bottom-line reporting.
In his current role, Rohit ensures that the group's communications response is in high alignment to its corporate promise of a responsive, rewarding and customer-friendly brand at all times. He is credited with consolidating and integrating the group's communications, CSR functions and ESG practice into a cohesive and agile unit, helping the group significantly leverage the many winning synergies that exist between them.
Before joining Kotak, Rohit spearheaded the Corporate Communications, Sustainability Development & Reporting and CSR functions at Reliance Industries Limited, a Fortune 500 company, for over six years. He began his career in 1983 with Bank of India, India's leading state-owned bank, and went on to serve the company for over a decade. This was followed by a seven-year stint as a senior business journalist, first with Business Standard, one of India's leading business dailies and later with Business India, India's pioneering business magazine, where he served as Assistant Editor & Head of Banking & Finance. In 2001, he switched to Strategic Communications Advisory, joining Adfactors PR, India's leading integrated communications company, as Head of Financial Services Practice for over three years.
Rohit is a commerce graduate (BU). He has also completed his Diploma in Business Management (IMC) and the Management Development Programme from XLRI.
Executive Vice President
Head - Group Corporate Communications, Business Responsibility & CSR
You may be interested in seeing our Corporate Responsibiliy Policies, statements and reports to get a better idea of our intiatives and its implementation
Kotak Mahindra Bank Ltd. (Kotak) recognises the immense opportunity it has to bring about a positive change in the lives of the communities through its business operations and corporate social responsibility (CSR) initiatives.
Kotak aspires to be a trusted partner and contributes significantly towards the economic, environmental and social growth of the nation and is also committed to contribute towards United Nation’s (UN) Sustainable Development Goals (SDGs). This policy sets out Kotak’s vision, mission, governance, and CSR focus areas to fulfill its inclusive growth agenda in India.
Further, CSR at Kotak is implemented collaboratively by the organisation along with its employees through volunteering programmes.
While ensuring that its CSR Policy, projects and programmes are compliant with the CSR mandate as specified under section 134, section 135 read with schedule VII of the Companies Act, 2013 along with the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time and in line with the Government of India’s notifications issued from time-to-time, Kotak also endeavours to align its CSR projects and programmes with government initiated social development programmes and interventions and last but not the least, United Nation’s Sustainable Development Goals (SDGs).
To improve the quality of life of the communities through positive impacts on economic, social and environmental parameters and in alignment with India’s social development objectives and SDG goals.
To create a lasting value for communities in need by promoting and supporting education, livelihood, healthcare, sports and environmental and sustainable development initiatives and others including reducing inequalities faced by socially and economically backward groups, relief and rehabilitation, and interventions towards an educated, employed, healthier and a cleaner India with the aim to serve communities at large and to transform their lives, in a collaborative manner by partnering with internal and external stakeholders.
Kotak’s CSR Identity
कर्म “ in Sanskrit means performing duty – action, without underlying expectations or returns.
कर्मण्येवाधिकारस्ते मा फलेषु कदाचन:।
मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥
Translation: Karmanye VadhiKaraste Maa Phaleshu Kadachan,
Maa Karmaphale HeturbhuMaar Te Sangostva Karmani
Meaning: You have a right to perform your prescribed duty, but you are not entitled to the fruits of action. Never consider yourself to be the cause of the results of your activities, and never be attached to not doing your duty. Source of the Shloka: Shrimad Bhagwat Gita, Chapter 2, Verse 47.
Scope of Kotak’s CSR Policy
Kotak’s CSR Policy is within the scope of the CSR mandate as specified under section 134, section 135 read with schedule VII of the Companies Act and as per the Government of India’s notifications issued from time-to-time.
1) Eradicating hunger, poverty and malnutrition, ‘‘promoting health care including preventive health care’’ and sanitation including contribution to the Swachh Bharat Kosh set-up by the Government of India for the promotion of 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 centres 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 including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga;
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 art 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 govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
9) Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government, and contributions to public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research (CSIR), Department of Atomic Energy (DAE), Defence Research and Development Organisation (DRDO), Department of Biotechnology (DBT), Department of Science and Technology (DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs);
10) Rural development projects;
11) Slum area development (the term `slum area' shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force);
12) Disaster management, including relief, rehabilitation and reconstruction activities.
Any other CSR activities which the Government of India may notify from time to time, shall constitute as CSR activities for the purposes of section 135 read with schedule VII of the Companies Act, 2013 along with the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time and in line with the Government of India’s notifications issued from time-to-time.
Statement of Commitment
Kotak, at all times, is committed to:
Kotak’s CSR Programme will be implemented significantly through Kotak Education Foundation (KEF) and BVV Sangha Kotak Mahindra Bank Rural Self Employment Training Institute (BVVS KMBL RSETI) but will not be limited to KEF and BVVS KMBL RSETI.
Given the enormity of India’s social development requirement, Kotak will either directly implement all its CSR projects and programmes, and /or partner* with selected partners who may be either governmental agencies, NGOs and/or other institution, for implementing projects and programmes who have a proven track record to implement cost and process efficient CSR projects and/or programmes that are scalable, sustainable, and have measurable social outcomes and impact.
Further, Kotak through its present and past employees, and stakeholders will also implement projects and programmes by procuring products and services directly from vendors and market at large.
[*Partner in the CSR context means Kotak joining-hands (partner) with an NGO to implement its CSR Programme i.e., Kotak’s CSR Programmes will be funded by Kotak (thus, CSR funding partner) and implemented by/through the partner (thus, an implementing partner). It is clarified that Kotak’s responsibility and liability is restricted to impact outcomes of its CSR Programmes only and in no manner will Kotak be responsible or held liable for any acts of omission and commission, and such other civil and criminal liabilities]
Charitable bodies in the form of KEF, BVVS KMBL RSETI, government agencies, Not for Profit Organisations (NPO), trust, foundations, companies under section 8 of the Companies Act (previously companies under Sec 25 of the Companies Act, 1956) and such other agencies who work in the interest of the community in this space. As per development sector practice and for convenience, Kotak will refer to all its implementing partners as NGOs unless otherwise specified in this CSR Policy.
While Kotak will endeavour to implement its projects and programmes in the area where it carries on its business and operations, being in banking financial services and insurance business (BFSI), with due approval of the Kotak’s Board CSR Committee (CSR Committee) and the Kotak’s Board of Directors (Board), Kotak may also implement its CSR programmes and/or projects either directly or with partner NGOs within the geography of India to serve and support the needy people (children, youth, women, war widows, war veterans, elderly, and the differently-abled including school and college dropouts or anyone who never had any formal education (illiterate), destitute, homeless) and/or towards nation building.
Kotak has defined CSR Focus Areas to make a concerted effort to achieve a meaningful and measurable social impact. On a case-to-case basis, the CSR programmes and/or projects which are outside Kotak’s defined four CSR Focus Areas but are eligible CSR activities section 135 read with schedule VII of the Companies Act, 2013 along with the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time and in line with the Government of India’s notifications issued from time-to-time, and as may be approved by the CSR Committee.
Key Focus Areas
(I) CSR Focus Area: Education & Livelihood
Through its CSR focus area - Education & Livelihood, Kotak will endeavor to enhance the accessibility and affordability of quality education for deserving underprivileged sections of society including special education for the differently abled children and youth.
Kotak’s programmes and/or projects on Education will focus on providing financial and other resource support to educational institutions comprising infrastructure, buses, scholarships and coaching to children, teachers, headmasters, principals, administrators and trustees and parents and guardians to cater a holistic learning environment for children at school and home. The activities will also include providing mid-day meals and creating relevant infrastructure such as specialized food delivery vans, utensils, kitchens, warehouses etc. and other required nutrition and health related support to the children.
Kotak’s Livelihood programmes and/or projects will work towards imparting vocational skills and development training courses to children, youth, women, war widows, war veterans, elderly, and the differently-abled including school and college dropouts or anyone who never had any formal education (illiterate) through technical, soft and trade and commerce skills which will help them earn a livelihood and/or enhance their livelihood in rural, semi urban.
Kotak may also undertake any other programmes and/or projects which would focus on the education sector and/or livelihood sector, as may be approved by the CSR Committee.
(II) CSR Focus Area: Healthcare
Through its CSR focus area – Healthcare, Kotak will undertake projects and programmes directly and/or through implementing partners working in the healthcare and sanitation domain including but not limited to improving access to healthcare facilities by providing ambulances, screening vans and mobile health units etc.
Kotak will undertake projects and programmes in the fields of healthcare, sanitation, eradication of hunger and malnutrition, and provision of access to safe drinking water. The CSR projects and/or programmes will aim to provide preventive and curative care and also palliative care, health check-up camps to various age groups to spread awareness for prevention and cure of cancer, HIV/AIDS, tuberculosis, malaria, and other communicable and non-communicable diseases and illnesses. Kotak will also undertake projects and programmes to sensitise communities on personal and community health and hygiene. To give life a fighting chance, Kotak will promote, encourage and implement blood and organ donations.
Kotak may also undertake any other programmes and/or projects which would focus on the healthcare sector, as may be approved by the CSR Committee.
(III) CSR Focus Area: Environment and Sustainable Development
Through its CSR focus area – Environment and Sustainable Development, Kotak will partner with NGOs working in the area of maintaining ecological balance, protection of flora and fauna, animal welfare, agriculture, agro forestry, forestry, conservation of natural resources and maintaining quality of soil, air and water.
Kotak will also invest in projects and programmes for water conservation, rain water harvesting, adopting green technologies, waste reduction and recycling including effluent treatment, and reusing (3Rs) and promote, encourage and use alternate energy. Further, Kotak will undertake projects and/or programmes with NGO partners that are committed to and work in areas of Environmental, Social and Governance (ESG), Sustainability, SDGs and CSR either through direct activities or in the form of advisory, policy advocacy and stakeholder awareness programmes either directly or with eligible institutions under the CSR mandate.
Kotak may also undertake any other programmes and/or projects which would focus on the environment and sustainable development sector, as may be approved by the CSR Committee.
(IV) CSR Focus Area: Relief & Rehabilitation (COVID-19)
Corona Virus (COVID-19) has been declared as pandemic by the World Health Organisation (WHO), and Government of India has treated this as a notified disaster. The spread of COVID-19 in India has been widespread. Economic and social impact of the pandemic has been equally significant. Many of these issues require sustained and long term CSR support. Thus Kotak may undertake and support various relief and rehabilitation activities related to COVID-19 including under item nos. (i) and (xii) of Schedule VII of the Companies Act, 2013 relating to promotion of health care, preventive health care and sanitation, and disaster management or under such other areas as may be specified by the Ministry of Corporate Affairs from time to time in this regard. Such CSR projects and/or programmes may aim to provide immediate response to reduce or avoid potential spread of disease and losses resulting from same, assure prompt and appropriate assistance to victims of the pandemic or resulting lockdowns. Kotak may also undertake projects and programmes that engage with the community for long-term rehabilitation solutions including but not limited to focusing on livelihood enhancement, providing shelter and infrastructure for education and health services to achieve rapid and effective recovery.
In case of other calamities, pandemic or a notified disaster, Kotak may commit significant portion of the CSR funds towards disaster management projects and programmes for dealing with humanitarian aspects of emergencies in particular preparedness, response and recovery in order to lessen the impact of disaster either directly and/or through implementing partners working in relief, rehabilitation and reconstruction domain, providing immediate and long term solutions, during and after a disaster with the purpose to avoid a disaster, reduce its impact or recover from its losses including but not limited to providing essential relief material such as safe drinking water, meals, clothes, medical aid & camps, and supply of daily essentials to the affected communities.
Kotak may also undertake any other programmes and/or projects which would focus on the Relief & Rehabilitation (COVID-19), as may be approved by the CSR Committee.
(V) CSR Focus Area: Sports
A significantly high percentage of Indian children and youth are from the underprivileged and less privileged segment where basic education and sports education including training and coaching is not available. Sport is an activity for children and youth, and is often used as a draw card to recruit children and young people to health and education programmes. Sport development projects that focus on educational outcomes use sport as a means to deliver educational messages to participants and spectators in some cases.
The United Nations (UN) is using sport and games related projects and programmes to encourage young people, particularly girls and young women, to attend school within refugee camps across the world. The United Nations Children's Fund (UNICEF) also lays strong emphasis on ‘sport’ while campaigning for girls’ education, promoting education through events and other awareness campaigns.
India has a severe dearth of training and coaching facilities for sports training for the underprivileged and less privileged segment. Through its CSR Programme on Sports, Kotak will either directly or with/through NGOs impart training and coaching programmes as well as work towards development of infrastructure and training facilities to enable children, youth and adults who cannot play get training opportunities for them to take up rural sports, nationally recognised sports, international and world championships, Olympics and Para Olympics.
Kotak may also undertake any other programmes and/or projects which would focus on the sports sector, as may be approved by the CSR Committee.
(VI) CSR Focus Area: Others
Kotak’s priority will be to implement CSR projects and programmes which come under CSR Focus areas as defined in this CSR Policy statement, but it will not be restricted to these defined CSR focus areas only. On a case to case basis, Kotak may also consider undertaking CSR programmes and/or projects on CSR focus areas which are eligible under section 135 read with schedule VII of the Companies Act, 2013 along with the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time and in line with the Government of India’s notifications issued from time-to-time and as may be approved by the CSR Committee.
Kotak has an established Board appointed Corporate Social Responsibility Committee which is responsible for the overall governance of CSR. Kotak’s Board CSR Committee (CSR Committee) comprises of three (3) or more directors, out of which at least one (1) is an independent Director.
While, the CSR Committee will be responsible to review and approve Kotak’s CSR Policy and Programmes, Kotak’s CSR head and his/her team will be responsible for execution of CSR Programmes within the scope of Kotak’s CSR policy and the Companies Act.
Kotak’s CSR Expenditure payments will be published in its Annual Report as per the CSR reporting format mentioned in the Companies Act and the same shall be available at www.kotak.com
This CSR Policy Statement is effective from 1st April, 2020 and supersedes all earlier Kotak’s CSR Policy Statements.
For Further information, write to CSR@kotak.com
Kotak Mahindra Bank Ltd (KMBL), henceforth referred as “the Bank”, shall establish, operate, maintain and continually improve, a robust and resilient BCMS framework to proactively identify and mitigate risks that can cause disruption, to minimize the impact during such disruption and ensure continuity of its key products & services at an acceptable level while meeting the expectation of stakeholders within the prevailing legal & regulatory framework.
Business Continuity Objectives
Keeping in mind the Bank's vision and core values, the objectives of the Business Continuity Management program will be:
The Bank’s comprehensive business continuity management model is designed to enable the Bank to meet its existing obligations to all its stakeholders in the event of an emergency or significant business disruption. The business continuity plans are formulated and designed to work in a variety of crisis and emergency situations; but these events are, by their nature unpredictable and it is impossible to anticipate every scenario that could cause a significant business disruption. The Bank is confident in its ability to maintain continuity of critical operations during disruptive events, however the Bank has no control over the various entities that it must rely upon in the event of an emergency. The Bank’s business continuity plans are tested periodically to ensure robustness and efficiency; yet such tests may not be able to replicate the actual conditions we experience in a real emergency. The business continuity plans of the Bank are reviewed regularly to ensure that appropriate enhancements are implemented as technology improves, business plans evolve, or regulatory requirements change and hence may change without notice. The information contained in this policy statement is provided by the Bank for information purposes only. Nothing contained herein shall be construed to amend, supplement or otherwise modify any of the terms and conditions set forth in any customer agreement.
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|Business Responsibility Report (BRR) FY 13-14|
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|Carbon Disclosure Project 2020|
|Carbon Disclosure Project 2019|
|Carbon Disclosure Project 2018|
|Carbon Disclosure Project 2017|
|Carbon Disclosure Project 2016|
|Carbon Disclosure Project 2015|
|Carbon Disclosure Project 2014|