Kotak Mahindra Bank (Kotak) organised several workshops across businesses to embed the Bank’s Business Responsibility (BR) agenda in FY 2018-19. The Bank continues to work on a long-term approach to create value for its stakeholders and enhance its overall sustainability performance.
In an effort to encourage sustainable environmental practices, various energy saving initiatives were implemented in FY 2018-19, enabling Kotak to save more than 1,200 MWh of electricity from being consumed. Plastic waste management has been one of the major focus areas of the Bank. In FY 2018-19, several offices of Kotak replaced single-use plastic water bottles with glass water dispensers. In FY 2018-19, Kotak recycled, 1,547 kg of used PET bottles, which earned the Bank recognition from Bisleri as the highest contributor to their ‘Bottles for Change’ initiative. Further, Kotak distributed over 1.25 lakh cotton cloth bags to inculcate the habit of “carry your own bag” among citizens pan India.
Kotak’s Code of Conduct puts utmost importance on conducting its operations in an ethical and responsible manner. Kotak acknowledges that the core ingredient of its success and growth are its employees. Several initiatives have been undertaken to nurture the values of integrity, transparency and accountability Key highlights: as well as to enhance skills, engagement and satisfaction amongst employees. Stakeholders such as employees, customers and community members have benefited from the diverse initiatives implemented by Kotak in FY 2018-19.
‘Customer Experience’ through Net Promoter Score (NPS) – one of Kotak’s stakeholder engagement initiatives has helped the Bank in undertaking timely interventions and identifying areas that require product and service improvements.
Inclusive growth continues to be a key agenda for the Bank. Kotak’s digital-first organic growth strategy – fuelled by the deeper penetration of India Stack coupled with formalisation of the Indian economy (GST) and financial savings (less-cash digital India), has contributed immensely towards its financial inclusion programme, thus enabling the Bank to take banking to unbanked and under-banked regions.
While implementing CSR activities as prescribed in Schedule VII read with Section 135 of the Companies Act, 2013, the Bank increased its footprint in its key CSR focus areas which include education, livelihood & skill development, healthcare and sports.