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Code of Conduct

Corporate Governance - Model code of Conduct

    Project VIGEYE

    The Government of India monitors the vigilance function and implements the anti corruption measures and maintenance of integrity and probity in public services viz. Central Government Departments and Public Sector Undertakings (PSUs) including Banks mainly through the Central Vigilance Commission (CVC). The Central Vigilance Commission was set up by the Government of India by its resolution dated 11.2.1964 in pursuance of the recommendation made by the Committee on Prevention of Corruption (popularly known as the Santhanam Committee). The Commission acts as the apex body for exercising general superintendence and control over vigilance matters in administration and probity in public life.

    Corruption is an insidious plague that has a wide range of corrosive effects on societies. It undermines rule of law, leads to violations of human rights and allows organized crime to flourish.

    Looking into the magnitude of corruption, a comprehensive and multidisciplinary approach is required to prevent and combat it effectively. Preventing corruption also requires an effort from all members of society at large. For these reasons, The United Nations Convention against Corruption also calls on countries to promote actively the involvement of civil society, and to raise public awareness of corruption.

    Information about corruption, malpractices or misconduct on the part of public servants may come to the notice of authorities through complaints which are made with the objective of getting instantaneous redressal of complaints and, expose the wrongdoers. The Central Vigilance Commission, with a view to improving vigilance administration and giving a tool to the general public to air their grievances and taking their help in fighting the menace of corruption, has started Project VIGEYE.

    Project VIGEYE (Vigilance Eye) is a citizen-centric initiative, wherein citizens join hands with the Central Vigilance Commission in fighting corruption. It is a platform through which vigilance information flows freely from common public to the commission, making it possible to provide easy access for sending sensitive information in complaints quickly. The Project VIGEYE should be given wide publicity to sensitize the members of public about corruption. Procedure for registration and lodging complaints by the citizens, on line in digital form through mobile phone and internet, on the VigEYE portal is given here in below.

    Requirements for registering complaints through Mobile

    1. GPRS facility enabled mobile phone.
    2. Citizens having a suitable mobile (see the list of supported mobile phone models on http://www.vigeye.com/register_mobile_init.php) can lodge complaints through mobile phone, after downloading the mobile software.

    How to Register for VigEYE application through Mobile

    1. Send a blank SMS to 09223174440.
    2. A registration link will be received on your mobile (http://www.vigeye.com/register_mobile_init.php).
    3. Click the link.
    4. Enter name, address, mobile number, mobile model, email (optional).
    5. System confirms the request and sends mobile application link, with login and password as SMS to mobile and email, if provided.
    6. Download the application by clicking on the link received in the SMS.
    7. Application automatically prompts for installation after download.
    8. Permit the application to be installed on the mobile.

    How to submit a complaint on mobile phone

    1. Login with the user-id and password provided in the SMS earlier.
    2. Lodge the complaint with Category, Complaint type, Organisation, Region in first screen.
    3. Press Next.
    4. Reference-Id will be displayed on the screen.
    5. Uploading option is available for attaching Photo, Video, Audio, Notes with the complaint.
    6. Press Thanks for submitting the complaint.
    7. Login with registered mobile number and password to see the status of the complaints lodged.

    How to Register for VigEYE application through Internet

    1. Go to www.vigeye.com (can also reach this site through CVC website www.cvc.nic.in)
    2. Under the tab “WEB COMPLAINTS”, register by further clicking either the “Web Complaints System” or “Register Web” links appearing on the first two lines in the content of the page.
    3. A “Web User Registration” Screen appears
    4. Register with your complete details like Name, E-Mail, Address, Pin Code, State, Mobile Number and press Submit.
    5. System sends user name and password at the email and an SMS provided during registration.

    How to submit a complaint through Internet

    1. Login using the provided username and password
    2. Fill up the textual complaint in the web form. Upto 5 files may be uploaded with the complaint.
    3. Complaint ID will be given by the system once complaint is lodged.
    4. Login with registered user name and password to view the status of the complaint.
    5. Please refer VigEYE website (www.vigeye.com) for any clarification/details.
  1. Need and objective of the Code
  2. 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. The term "Senior Management" shall mean personnel of the company who are members of its core management team excluding the Board of Directors. This would also include all members of management, one level below the Executive Directors including all functional heads.

  3. Bank's Belief System

  4. 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 recognizes that the Bank is a trustee and custodian of public money and in order to fulfill 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 behavior. 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 endeavor 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.

  5. Philosophy of the Code
  6. The code envisages and expects

    1. 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.
    2. Full, fair, accurate, sensible, timely and meaningful disclosures in the periodic reports required to be filed by the Bank with government and regulatory agencies.
    3. Compliance with applicable laws, rules and regulations.
    4. To address misuse or misapplication of the Bank's assets and resources.
    5. The highest level of confidentiality and fair dealing within and outside the Bank.

    1. General Standards of conduct :

      The Bank expects all Directors and 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 cooperative, efficient, positive, harmonious and productive work environment and business organization. The Directors and 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 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.

    2. Conflict of Interest :

      A "conflict of interest" occurs when personal interest of any member of the Board of Directors and of the Core management interferes or appears to interfere in any way with the interests of the Bank. Every member of the Board of Directors and Core Management has a responsibility to the Bank, its stakeholders and to each other. Although this duty does not prevent them from engaging in personal transactions and investments, it does demand that they avoid situations where a conflict of interest might occur or appear to occur. They are expected to perform their duties in a way that they do not conflict with the Bank's interest such as :

      • Employment /Outside Employment - The members of the Core Management are expected to devote their total attention to the business interests of the Bank. They are prohibited from engaging in any activity that interferes with their performance or responsibilities to the Bank or otherwise is in conflict with or prejudicial to the Bank.

      • Business Interests - If any member of the Board of Directors and Core Management considers investment in securities issued by the Bank's customer, supplier or competitor, they should ensure that these investments do not compromise their responsibilities to the Bank. Many factors including the size and nature of the investment; their ability to influence the Bank's decisions, their access to confidential information of the Bank, or of the other entity, and the nature of the relationship between the Bank and the customer, supplier or competitor should be considered in determining whether a conflict exists. Additionally, they should disclose to the Bank any interest that they have which may conflict with the business of the Bank.