On Section 377 verdict anniversary, Axis Bank announces inclusive policies for the LGBTQIA+ community

Mumbai Pride march (Image courtesy: Reuters)

Rejoicing about the third anniversary of the Supreme Court’s Section 377 verdict, Axis Bank on September 6, announced a charter of policies for its customers and employees from the LGBTQIA+ community. Three years ago on the same day, a historic verdict was passed by the apex court, decriminalizing any sexual relationships maintained in privacy between consenting adults irrespective genders. The bank attributed the initiative as a part of its wider environmental, social, and governance.  

 Inclusive initiatives for the employees are: 

• Employees can register their partners for Mediclaim Benefits irrespective of their gender or marital status. 
• Employees can dress as per their gender/ gender expression, as they could have gender or gender expression which differs from their sex assigned at birth. 
• Employees can use a restroom of their choice as per their gender identity.  
• Employees can have a redressal process when they face challenges.
  
  

Effective from 20th September 2021, all LGBTQIA+ customers will be eligible for the following policies: 

• Customers can access a Joint Savings Account or a Term Deposit Account with their same-sex partner. 
• Customers can add ‘Mx’ as a title in their Savings or Term Deposit Account. 
• Customers can make their same-sex partner a nominee in their Joint Savings Bank Account or Term Deposit Account. 

According to news reports, Rajesh Dahiya, Executive Director of Axis Bank expressed the bank’s focus on diversity, equity, and inclusion that admires and respects the significance of different identities and their life journeys extending beyond the prototype of gender.  

Dahiya further added, 

"Our commitments have been tactical and our focus is on creating non-discriminatory policies in order to create space for everyone to progress. We welcome everyone to join Axis bank in this journey as the change-makers of the nation. We are 'DilSeOpen' so ‘ComeAsYouAre.’"  

Axis Bank will continue introducing such policies in a phased manner over the coming days to make the banking experience inclusive for its customers.

Author 

Ankita Mazumdar