IDBI takes green initiatives in corp governance

MUMBAI, INDIA: IDBI Bank on Wednesday said it has taken a step towards the Green Initiative in Corporate Governance by going paperless and sending documents to shareholders through electronic mode.

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, said a press release.

The members need to provide their valid email id to the Depository with whom their Demat Account is maintained or to Investor Services of India Ltd., Registrar and Transfer Agent of the bank, along with the Folio No. / DP ID and Client ID. The members, however, are entitled to receive all such communications in physical form upon specific request.

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 circulars 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.