Corporate Governance is a system of rules, practices and processes by which a company is directed and run. It is about commitment to values, ethical business conduct, and contributions towards social causes and about considering all stakeholders’ interest in the conduct of its business.
Over the last few years, there have been several changes in the way corporates run their operations. For one, a tighter regulatory regime has been implemented, significantly enhancing responsibilities for the Board of Directors, Independent Directors as well as the growing presence of shareholders’ activism leading to building of environment of self-governance. Secondly, the cardinal principles such as independence, accountability, responsibility, transparency, fair and timely disclosures, credibility etc. serve as the means for implementing the philosophy of corporate governance in letter and spirit.
AU Bank strictly ensures compliance with basic codes standards, simultaneously providing flexibility and accommodates new approaches and ideas that could be beneficial for the long-term interests of stakeholders.
Good Corporate Governance is now being recognized as a key management tool and a tool for socio economic development to enhance economic efficiency, growth and stakeholder confidence and company manages to be committed to values, ethics and contribution towards the social cause.
In 2016, after the demise of her husband and two sons, Hema took charge of her husband’s Motor Driving School. AU Bank transferred the car loans in her name and provided support when Hema needed it the most. After one year, Hema became independent and her business is running better then before. She is also providing employment to four drivers in her Motor Driving School.
Shankar Lal Yadav wanted to give more time to his differently-abled son but his job did not allow that. His monthly income of Rs 8,000 - 10,000 was also not enough to support his family. AU offered him a hassle-free vehicle loan and within a week he was driving 30 students to-and-fro from school. The new source of livelihood has raised the family income by three times.