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c. During FY 2019-20, 2 (two) meetings of the HR Committee were held on the following dates:
May 09, 2019 3 3
March 10, 2020 3 2
d. the following are the key terms of reference of the Committee:
1. Review regularly and approve the Bank’s program for executive and employee development;
2. Review and implement the various HR policies and manual of the Bank;
3. Develop, review and approve the principles guiding the Bank’s executive compensation philosophies;
4. Assure that the bonus plan is administered in a manner consistent with Bank’s compensation principles and strategies including Bank’s policies relating to executive management succession and executive organization development; and
5. Any other matter related to employees.
10. it Strategy cOmmittee
a. the Bank has constituted an It Strategy Committee in accordance with RBI guidelines.
Date of HR Committee meeting
Total number of members
Number of members present
mr. nanDlal SarDa
Chairman of the IT Strategy Committee
Brief profile: Nandlal Sarda is an Independent Director of the Bank. He holds a master of technology degree in electrical engineering and doctor of philosophy degree from the Indian Institute of technology, Bombay. He has previously served as a director on the boards of the Union Bank of India, Clearing Corporation of India and Andhra Bank. He was a professor in the department of computer science and engineering at Indian Institute of technology, Bombay.
Nature of Expertise: Information technology
b. the composition of the It Strategy Committee and the details of the meetings attended by its members are given below:
Sr. no.
Name of director
Designation/Category
Number of meetings during fy 2019-20
% of attendance
held during their tenure
attended
1. Mr. Nandlal Sarda
2. Mr. Sunil Vinayak patel*
3. Mr. Jayanta Kumar Basu**
4. Ms. Mona Kachhwaha
5. Mr. Sachin Bansal***
Chairman-Independent Director
Ex-Member - Independent Director
Member - Non-Executive, Non-Independent Director
Member - Non-Executive, Non-Independent Director
Ex-Member - Independent Director
4 4 100
1 1 100
3 2 67
4 3 75
3 2 67
* Moved out from the Committee w.e.f June 01, 2019
**Joined the Committee w.e.f June 01, 2019
***Joined the Committee w.e.f June 01, 2019 and moved out w.e.f. January 27, 2020 due to resignation
c. During FY 2019-20, 4 (Four) meetings of the d. It Strategy Committee were held on the following dates:
the following are the key terms of reference of the Committee:
Date of IT Strategy Committee Meeting
Total number of members
Number of members present
May 27, 2019 3 3
July 29, 2019 4 3
November 04, 2019 4 3
January 21, 2020 4 3
1. Approving It strategy and policy documents;
2. ensuring that the management has put an effective strategic planning process in place;
3. Ratifying that the business strategy is indeed aligned with It strategy;
196 | AnnuAl RepoRt 2019-20