Green Initiative in Corporate Governance by IDBI Bank

IDBI Bank takes a step towards the Green Initiative in Corporate Governance by going paperless and sending documents to shareholders through electronic mode. The Ministry of Corporate Affairs (MCA) has taken “Green Initiative in Corporate Governance” by allowing paperless compliances by Companies through electronic mode. In accordance with the recent circular no.17/2011 dated April 21, 2011 and circular no.18/2011 dated April 29, 2011 issued by MCA, Companies can now send various notices and documents including Annual Report, to their shareholders through electronic mode to the registered e-mail address of shareholders.

The Bank proposes to send all the documents like General Meeting Notices/other notices, Annual Report or any other document to members in electronic form. In this connection, the members need to provide their valid email id’s to the Depository with whom their Demat Account is maintained or to Investor Services of India Ltd., Registrar & Transfer Agent of the Bank, along with the Folio No. / DP ID and Client ID.

It may also be noted that members will be entitled to receive all such communication(s) in physical form, upon making specific request in this regard.