IDBI Bank to promote paperless activities

MUMBAI : IDBI Bank  said it has taken a step towards the Green Initiative in Corporate Governance by going paperless and sending documents to shareholders through electronic mode. It is to be noted that Ministry of Corporate Affairs (MCA) has taken ‘Green Initiative in Corporate Governance’ by allowing paperless compliances by Companies 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 in a statement.

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.

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.

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Posted by indiacsr on Jul 28 2011. Filed under Corporate Governance. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.