ICICI Bank 2013 Annual Report Download - page 29

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Annual Report 2012-2013 27
ascertain if the management has resources to ensure the proper management of IT risks and review
contribution of IT to businesses.
Composition
The IT Strategy Committee currently comprises four Directors including three independent Directors and
the Managing Director & CEO. The Committee is chaired by Homi Khusrokhan, an independent Director.
Four Meetings of the Committee were held during fiscal 2013. The details of the composition of the
Committee and attendance at its Meeting is set out in the following table:
Name of Member Number of meetings attended
Homi Khusrokhan, Chairman 4/4
K. V. Kamath 4/4
Sridar Iyengar (upto April 29, 2013) 3/4
Chanda Kochhar 2/4
The Board of Directors at its Meeting held on April 26, 2013 re-constituted the Information Technology
Strategy Committee effective April 30, 2013 pursuant to which V. Sridar has been appointed as a Member
of the Committee effective April 30, 2013 in place of Sridar Iyengar.
IX. Risk Committee
Terms of Reference
The Committee is empowered to review ICICI Bank’s risk management policies pertaining to credit,
market, liquidity, operational, outsourcing, reputation risks, business continuity and disaster recovery
plan. The Committee is also empowered to review the Enterprise Risk Management framework of the
Bank, risk appetite, stress testing framework, Internal Capital Adequacy Assessment Process (ICAAP) and
framework for capital allocation. The Committee is empowered to review the status of Basel II and Basel
III implementation, risk return profile of the Bank, outsourcing activities, compliance with RBI guidelines
pertaining to credit, market and operational risk management systems and the activities of Asset Liability
Management Committee. The Committee also reviews the risk profile template and key risk indicators
pertaining to various risks. In addition, the Committee has oversight on risks of subsidiaries covered
under the Group Risk Management Framework.
Composition
The Risk Committee at March 31, 2013 comprised five Directors including four independent Directors
and the Managing Director & CEO. It is chaired by K. V. Kamath, an independent Director. There were
seven 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 7/7
Sridar Iyengar14/7
Arvind Kumar 0/7
V. Sridar 7/7
Chanda Kochhar 7/7
1. Participated in two Meetings through tele-conference.
The Risk Committee currently comprises six Directors including the Managing Director & CEO as the
Board of Directors at its Meeting held on April 26, 2013 re-constituted the Risk Committee effective April
30, 2013 pursuant to which Homi Khusrokhan and Dileep Choksi (in place of Sridar Iyengar) have been
appointed as Members of the Committee effective April 30, 2013.