Corporate Governance


The Company strives to practice the highest standards of corporate governance process and procedures. In order to achieve this goal, the Company has constituted various Committees

Role of the Committees:

Each Committee has been constituted for specific functions and responsibility with a view to ensure:

  • accuracy, transparency, integrity, adherence to the internal rules and guidelines
  • process for monitoring compliance with applicable laws and regulations and code of conduct
  • the adequacy of system of internal controls and check
  • to advise, recommend necessary corrective steps

Audit Committee:

Terms of Reference:

  • Review of Internal Audit Plan, adequacy of internal audit function and to advise on the scope and areas of audit
  • Review periodically operating policies of the Company.
  • Recommend remuneration and terms of appointment of auditors of the Company
  • Review and monitor the auditor’s independence and performance, and effectiveness of audit process
  • Examination of the financial statement and the auditors' report thereon
  • Approve or any subsequent modification of transactions of the Company with related parties
  • Scrutiny of inter-corporate loans and investments
  • Valuation of undertakings or assets of the company, wherever it is necessary
  • Monitor the end use of funds raised through public offers and related matters
  • Evaluation of internal financial controls and risk management systems


The Audit Committee shall have the following powers in accordance with the terms of reference :
  • To investigate any matter within its terms of reference or in relation to the compliance with the applicable laws or referred to it by the Board
    • To seek information from any employee
    • To obtain outside legal or other professional advice
    • To secure attendance of outsiders with relevant expertise, if it considers necessary
    • To have access to the Company's records

Nomination & Remuneration Committee:

  • Review annually the Compensation Structure for CEO, Directors and Senior Management
  • Review and Recommend to the Board Annual Increments, Incentive and Bonus Plans, Promotions for Employees of the Company
  • Determines and approves the internal framework of distribution of the Performance Related Pay (PRP) to the employees of the Company including Whole Time Director(s)
  • Recommend to the Board appointment and removal of Directors and Senior management
  • Evaluate performance of the Board of Directors
  • Recommend to the Board a policy relating to the remuneration for Directors, Key Managerial Personnel and other employees
  • Consider any other matter as required by the provisions of the Companies Act, 2013 / RBI Regulations

Asset Liability Management Committee:

Roles and Responsibilities:

  • To put in place Management Information System (MIS) for quick analysis and consolidation of data for managing the assets and liabilities with respect to maturity mismatches and various risks associated therewith
  • Monitoring and managing liquidity and interest rate structures
  • Review of Funding and Capital Planning
  • Review periodically the Market Scenario and preparation of Contingency plans
  • Approves pricing of assets and liabilities-balance sheet management
  • Devise a risk mitigation framework etc

Nomination Committee:

Role and Responsibility:

To ensure that the general character of the management or the proposed management of the Company is not prejudicial to the interest of its present and future depositors, if any, and to ensure 'fit and proper' status of the existing and proposed Director(s) of the Company

Risk Management Committee:

Roles and Responsibilities:

  • The Committee shall oversee, identify and evaluate internal and external risks associated with the business operations of the Company
  • The Committee shall monitor and approve the risk policies and framework, process and practice
  • Review the adequacy of risk mitigation framework and recommend necessary actions / process
  • Ensures compliance with statutory regulations and internal guidelines

Investment Committee:

Roles and Responsibilities:

  • The Committee reviews and approves the investment proposal within the approved framework
  • Review periodically performance of Investment portfolio
  • Monitors and ensures compliance with Statutory Requirements
  • Advise on corrective measures as required