Axis Bank Announces Policies For LGBTQIA Customers & Employees. Know Benefits

From allowing customers to open joint savings and term deposit account with their same sex partner, the bank has permitted employees to dress in accordance with their gender/gender expression

Representative Photo

New Delhi: Now, private sector bank Axis Bank has joined the list of companies to create a charter of policies and practices aimed at customers and employees from the LGBTQIA community, as part of efforts to encourage "diversity, equity, and inclusion" in its work environment. The policies are in line with the company’s 'DilSeOpen' philosophy.

Recognizing that employees could have gender or gender expression that's different from their sex assigned at birth, the lender introduced the charter of policies aimed at the LGBTQIA+ community.

What are the benefits extended for the LGBTQIA community in Axis Bank?

Under the new charter of policies and practices termed as 'ComeAsYouAre' aimed at employees and customers from the LGBTQIA+ community.

Inclusive banking offerings for the customers:

• Axis Bank customers will also be able to open joint savings and term deposit account with their same-sex partner.
• Customers can add their same-sex partner as a nominee in their Savings or Term Deposit Accounts. Customers can open a Joint Savings or Term Deposit Account with their same-sex partner.
• Customers from the LGBTQIA+ community will be able to list their title as ‘Mx’. It means customers who are gender non-binary, gender fluid, or transgender persons will have the option of choosing their title from the option of 'Mx' in their savings or term deposit account.  The measures will be implemented from September 20 onwards.

Inclusive policies for employees are:

• Employees are allowed to list their partners for mediclaim benefits irrespective of their gender, sex, or marital status.
• Employees can dress in accordance with their gender/gender expression, the press release said, adding that the policies have been aligned with the bank's wider "Environmental, Social, and Governance" commitments.
• Axis Bank has a Diversity, Equity, and Inclusion policy and a Human Rights Policy that offers redressal to challenges faced by employees from this community
• Employees from the LGBTQIA+ community will be able to use a restroom of their choice. The bank said it has initiated all-gender restrooms at its large offices.
  
  Several companies have introduced such policies after the Supreme Court in 2018 decriminalised sexual relationships between consenting adults in private. Axis Bank said it is focussing on creating equitable processes and policies that allow it to create space for everyone to thrive.