Axis Bank on 6 September said it has announced a charter of policies and practices for their employees and customers from the LGBTQIA+ community to promote and implement diversity, equity and inclusion.
As part of the new policies, all employees can list their partner for mediclaim benefits irrespective of gender, sex or marital status. Also, employees can dress in accordance with their gender/gender expression the bank said.
Further, customers from LGBTQIA+ community will be able to list their title as ‘Mx’ in their Savings and Term Deposit Accounts, the bank said. As part of this, customers can open a joint Savings 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 said.
The bank said the inclusive policies are aligned with bank’s wide environment, social and governance (ESG) commitments.
The private lender also said these inclusive policies are in the same spirit of Supreme Court verdict on Section 377 on September 6, 2018. The verdict decriminalizes all sexual relationships between consenting adults in private.
Rajesh Dahiya, Executive Director, Axis Bank, said “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.”