Page 217 - Demo

Principle 2: Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle
1. List up to 3 of your products or services whose design has incorporated social or environmental concerns, risks and/or opportunities.
The Bank’s business operations are conducted keeping in mind the environmental limits and ensuring ongoing efficiency gains. the Bank encourages customers to go digital in their banking activities and offers financial products and services that are end-to-end processed digitally.
Bank’s Micro Banking business has an array of products like Group Loans, Individual Loans, Agriculture and Allied loan products and Family Banking suitable for catering the needs of unserved and underserved segments. Group loan products are offered to economically active, unserved and underserved customers to meet various requirements, including education loans and business loans. Individual Loans are again extended to its existing group loan customers after successful repayment of 20 monthly instalments for their working capital or expansion capital investment requirements for existing businesses. Bank’s Agriculture and allied loan products are specifically designed to meet the financing requirements of small and marginal farmers including those engaged in allied activities such as dairying, sericulture and purchase renovations and upgradation of farm equipment. Almost all of these loans are catering to the priority sector, as determined by the Ministry of Finance.
In addition, the Bank has products that help them save for the future of their children and families by offering attractive Recurring Deposit and Fixed Deposit products.
In order to engage the customers digitally, Bank offers mobile applications that are tailored for both smart phones and feature phones, which limits the usage of paper. Bank has witnessed growing usage of transactions related to mobile banking and UPI. Bank has also introduced customers to QR code for receiving payments instead of cash.
Bank’s MSe banking business offers loans and overdraft facility to small and medium enterprises engaged in manufacturing and service/trade activities in the form of investment as well as working capital, with flexible security requirements to make credit more accessible to the MSE borrowers.
In conjunction with the Current Account facility, Bank has developed a fully digital Business net Banking platform to cater to all the transaction needs of the SMe customers, with attendant controls at different levels to monitor transactions of varying values. the
system is parameterised to offer flexibility to the business owner in managing their own controls. This platform has capacity to conduct 9,999 transactions daily and is seamlessly done. the entire work- flow is digital.
Bank’s Affordable Housing loan business offerings are targeted towards informal and semi-formal income segments to help them purchase apartments or, build their own houses on purchased land or for refurbishment of existing homes.
The Bank’s Rural banking business caters to the financial requirements of customers in rural and semi-urban locations, through agriculture and allied loan products and also meet the larger goals of social empowerment and development. Based on several conversations with the customers and market research, Bank has created a Kisan Pragati Card (KCC like product) that is a 3-in-1 offer, meeting the periodic payment and monthly payment needs of the farmer. This product is delivered through a front-end tAB and supported at the back by a loan origination system, which caters to this unique product.
2. For each such product, provide the following details in respect of resource use (energy, water, raw material etc.) per unit of product (optional):
(a) Reduction during sourcing/production/ distribution achieved since the previous year throughout the value chain?
The Bank works towards optimising its resource consumption. The material used and procured by the Bank primarily comprises of paper and grid electricity for which the Bank is creating awareness among end users for sustainable consumption. In addition, the Bank has created a robust technology platform to build a new age digital banking ecosystem and it is focused on efficient use of natural resources.
The Bank’s products and processes are directed towards technology advancement and digitisation of its banking services in a customer-friendly manner. the result is visible through customer empowerment by providing them banking with ease, reduced paperwork and reduction in waste generation.
(b) Reduction during usage by consumers (energy, water) has been achieved since the previous year?
the Bank is adopting state of the art technology to digitise its operations and make products available digitally. It has witnessed strong growth in the adoption of TAB-based account opening, android-based mobile banking, and internet banking, thus minimising paper usage. The focus is to deliver a seamless solution that
STATUTORY REPORTS
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