ICICI Bank 2013 Annual Report Download - page 28

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Composition
The Customer Service Committee currently comprises four Directors including three independent
Directors and the Managing Director & CEO. It is chaired by K. V. Kamath, an independent Director. There
were six 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
K. V. Kamath, Chairman 6/6
M. S. Ramachandran 6/6
V. Sridar 6/6
Chanda Kochhar 5/6
VII. Fraud Monitoring Committee
Terms of Reference
The Committee monitors and reviews all the frauds involving an amount of ` 10.0 million and above
with the objective of identifying the systemic lacunae, if any, that facilitated perpetration of the fraud
and put in place measures to rectify the same. The Committee is also empowered to identify the reasons
for delay in detection, if any, and report to top management of the Bank and RBI on the same. The
progress of investigation and recovery position is also monitored by the Committee. The Committee also
ensures that staff accountability is examined at all levels in all the cases of frauds and action, if required,
is completed quickly without loss of time. The role of the Committee is also to review the efficacy of
the remedial action taken to prevent recurrence of frauds, such as strengthening of internal controls
and put in place other measures as may be considered relevant to strengthen preventive measures
against frauds.
Composition
The Fraud Monitoring Committee at March 31, 2013 comprised six Directors including four independent
Directors. The Committee is chaired by V. Sridar, an independent Director. There were six 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
V. Sridar, Chairman 6/6
K. V. Kamath 4/6
Homi Khusrokhan 6/6
Arvind Kumar 0/6
Chanda Kochhar 5/6
Rajiv Sabharwal 4/6
The Fraud Monitoring Committee currently comprises seven Directors including the Managing Director &
CEO as the Board of Directors at its Meeting held on April 26, 2013 re-constituted the Fraud Monitoring
Committee effective April 30, 2013 pursuant to which Dileep Choksi has been appointed as a Member of
the Committee effective April 30, 2013.
VIII. Information Technology Strategy Committee
Terms of Reference
The Committee is empowered to approve strategy for Information Technology (IT) and policy documents,
ensuring that IT strategy is aligned with business strategy, review IT risks, ensure proper balance of IT
investments for sustaining the Bank’s growth, oversee the aggregate funding of IT at a Bank-level and
Directors’ Report