ICICI Bank 2014 Annual Report Download - page 30

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28
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 (upto April 25, 2014) 6/6
M.S.Ramachandran 5/6
V. Sridar 6/6
ChandaKochhar 6/6
The Board of Directors at its Meeting held on April 25, 2014 re-constituted the Customer Service
Committee pursuant to which M. S. Ramachandran was appointed as Chairman of the Committee in
placeofK.V. KamatheffectivecloseofbusinesshoursonApril25,2014.
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
AtMarch31,2014,theFraudMonitoringCommitteecomprisedsevenDirectorsincludingfiveindependent
DirectorsandtheManagingDirector&CEOandwas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
DileepChoksi(w.e.f. April 30, 2013) 6/6
K.V. Kamath 6/6
HomiKhusrokhan 5/6
ArvindKumar 0/6
ChandaKochhar 6/6
RajivSabharwal 6/6
VIII. Information Technology Strategy Committee
Terms of Reference
TheCommitteeisempoweredtoapprovestrategyforInformationTechnology(IT)andpolicydocuments,
ensure 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
ascertain if the management has resources to ensure the proper management of IT risks and review
contributionofITtobusinesses.
Directors’Report