Axis Bank introduces new policies for its employees & customers belonging to the LGBTQIA+ community

On September 6, Axis Bank announced that it had planned to introduce a chain of schemes and practices for their employees and customers belonging to the LGBTQIA+ community to advocate and execute the three core values: diversity, equity and inclusion.

On September 6, Axis Bank announced that it had planned to a introduce chain of schemes and practices for their employees and customers belonging to the LGBTQIA+ community to advocate and execute the three core values: diversity, equity and inclusion.

The bank said in an official note that, “As part of the new policies, all employees can list their partners for mediclaim benefits irrespective of gender, sex or marital status. Also, employees can dress in accordance with their gender/ gender expression.”

Further, customers from the LGBTQIA+ community will be able to list their title as ‘Mx’ in their Savings and Term Deposit Accounts. As part of this, customers can open a Joint Savings or Term Deposit Account with their same-sex partner. Also, customers can add their same-sex partner as a nominee in their Savings or Term Deposit Accounts, the bank averred.

The private lending financial outlet mentioned the concept of inclusive policies that will be set according to its environmental, social and governance (ESG) commitments and ethics. This goes in context with the Supreme Court’s verdict ruled out on September 6, 2018, specifying Section 377 of the Indian Penal code on sexual minorities. The verdict legalised a consensual relationship between two adults of a particular community.

Rajesh Dahiya, Executive Director at Axis Bank, averred, “At Axis, we have put our focus on diversity, equity and inclusion that respects and recognizes the importance of distinctive life journeys and several identities that extend beyond the paradigms of gender.”

“This for us is as much about the invisible markers as it is about the visible ones. It is our belief that it fosters a culture of innovation and leverages the multiple talent pools that exist in a rich demography like ours”, Dahiya further added.

Source Money Control
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