DATA ANALYSIS AND INTERPRETATION

I.INFORMATION

RELATED

TO

PHILOSOPHY

ON

CORPORATE

GOVERNANCE The first statement is regarding information related to Philosophy on Corporate Governance. As per SEBI code for Corporate Governance, Banks philosophy on Corporate Governance should form an integral part of annual reports.

PRIVATE BANKS

SCORE

PUBLIC BANKS

SCORE

Axis Bank

OBC

HDFC Bank

SBI

ICICI

Bank Baroda

of

Karur Vysya

Syndicate Bank

Indus Bank

Ind

CBI

The table shows that all Banks have incorporated their vision and philosophy on Corporate Governance in their annual reports. There is no sub dimension in this parameter.

II.INFORMATION RELATED TO BOARD MEETINGS.

Answers to the questionnaire reveal that all the banks hold their board meetings QUARTERLY. PRIVATE BANKS Indus Ind Bank X X

Board Meetings

Axis Bank

HDFC Bank

ICICI Bank

K V Bank

Board Committee Procedures Number of Board Meetings held Location Dates on which BM held Minutes proceedings of of

X X

X X

X X

BM

Compliance Attendance of

directors at board meetings Last attendance AGM

PUBLIC BANKS Syndicate Bank X

Board Meetings

OBC

SBI

BoB

CBI X

Board Committee Procedures Number of Board Meetings held Location Dates on which BM held Minutes of

X X

X X

X X

proceedings of BM Compliance Attendance of X X X X

directors at board meetings Last attendance AGM

It can be concluded from the above table that all Banks are disclosing information regarding no. of board meetings, location, and attendance of directors at board meetings but not regarding the procedures, scheduling & selection of agenda item in BM, information placed before board, minutes etc. These area needs to be improved its reporting in both public sector and private sector.
III.INFORMATION RELATED TO AUDIT COMMITTEE

The next parameter is regarding information related to audit committee. The constitution, functions and procedures of audit committee were viewed in light of recommendations of the Kumar Mangalam Birla Committee. As per SEBI Code on Audit Committee following sub-dimensions were analyzed to give the score to Banks Indus Ind Syndicate KV Bank

Committ

Bank HDFC

Bank ICICI

Audit

Bank

Bank

Bank

OBC

ee Axis

BoB

CBI

SBI

Member s Powers Roles Attenda nce each member of

From the above table it is clear that mostly all Banks are providing information about audit committee but Axis, HDFC and IndusInd Bank does not show their role in audit committee. Kumar Managlam Birla Committee on Corporate Governance has put forward non-mandatory recommendations w.r.t. setting up of remuneration committee to determine on the behalf of the shareholders the agreed terms of reference, companys policy on specific remuneration packages for executive directors including pension rights and any compensation payment.
IV.INFORMATION RELATING TO REMUNERATION COMMITTEE

PRIVATE BANKS Indus Ind Bank

Remuneration committee Members

Axis Bank

HDFC Bank

ICICI Bank

K Bank

Policy Details of

Remuneration Attendance of each member PUBLIC BANKS Remuneration committee Members Policy Details of

OBC X

SBI X

BoB

Syndicate Bank X X X

CBI X

Remuneration Attendance of each member

It can be concluded from the above table that Axis Bank and ICICI have shown complete details of the remuneration committee. Public sector Banks need to improve their reporting in this parameter.
V.DISCLOSURES ON MATERIALLY SIGNIFICANT RELATED PARTY

TRANSACTIONS Disclosure Axis Bank Details of non-compliance

HDFC Bank ICICI Bank Karur Vysya Bank Indus Ind Bank OBC SBI BoB Syndicate Bank CBI

All Banks are disclosing information regarding disclosures on materially significant related party transactions except the Oriental Bank of Commerce.