ICICI Bank 2007 Annual Report Download - page 22

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20
Directors’ Report
V. Customer Service Committee
Terms of reference
The functions of this Committee include review of customer service initiatives, overseeing the functioning
of the Customer Service Council and evolving innovative measures for enhancing the quality of customer
service and improvement in the overall satisfaction level of customers.
Composition
The Customer Service Committee comprises five Directors, namely N. Vaghul, Narendra Murkumbi,
M. K. Sharma, P. M. Sinha and K. V. Kamath. It is chaired by N. Vaghul and a majority of its members
are independent Directors. There was one meeting of the Committee held in December 2006, which was
attended by all the Members of the Committee except M. K. Sharma.
VI. Fraud Monitoring Committee
Terms of reference
The Committee monitors and reviews all the frauds involving Rs. 10.0 million and above.
Composition
The Fraud Monitoring Committee comprises five Directors, namely, M. K. Sharma, Narendra Murkumbi,
K. V. Kamath, Kalpana Morparia and Chanda D. Kochhar and is chaired by M. K. Sharma.
There were 12 meetings of the Committee during the year. The details of the composition of the Committee
and attendance at its Meetings are as follows:
Name of Member Number of meetings attended
M. K. Sharma, Chairman 9
Narendra Murkumbi 9
K. V. Kamath 5
Kalpana Morparia 7
Chanda D. Kochhar 8
VI. Risk Committee
Terms of reference
The Committee reviews ICICI Bank’s risk management policies in relation to various risks (portfolio, liquidity,
interest rate, off-balance sheet and operational risks), investment policies and strategy and regulatory
and compliance issues in relation thereto. The Committee also reviews key risk indicators covering areas
such as credit risk, interest rate risk, liquidity risk, foreign exchange risk and internal audit.
Composition
The Risk Committee comprises five Directors. It is chaired by N. Vaghul and a majority of its members
are independent Directors. There were four meetings of the Committee during the year. The details of the
composition of the Committee and attendance at its Meetings are set out in the following table:
Name of Member Number of meetings attended
N. Vaghul, Chairman 4
Sridar Iyengar 4
Marti G. Subrahmanyam12
V. Prem Watsa 2
K. V. Kamath 4
1. Also participated in two meetings through tele-conference.