Axis Bank Implements Inclusive Policies for LGBTQIA+ Employees and Customers

by Team Iamsafeatwork

05-06-2023

Safety

06-Sept-2021 – Axis Bank, India’s leading private banks, has taken a significant step towards promoting diversity, equity, and inclusion by announcing a comprehensive set of policies and practices for its employees and customers from the LGBTQIA+ community. This landmark initiative, which aligns with the bank’s environmental, social, and governance (ESG) commitments, aims to create an inclusive and supportive environment for individuals with diverse sexual orientations and gender identities.

In a progressive move, Axis Bank has introduced the “#ComeAsYouAre” charter of policies and practices that reflects the spirit of a historic ruling by the Supreme Court of India in September 2018. The ruling decriminalized all sexual relationships between consenting adults in private, providing a foundation for the bank’s wider commitment to ESG principles.

Under the newly implemented policies, all employees of Axis Bank, regardless of their gender, sex, or marital status, can now list their partners for Mediclaim benefits. This step is a significant stride towards recognizing and ensuring equal rights for LGBTQIA+ employees. Furthermore, employees are granted the freedom to use restrooms in accordance with their gender expression or gender identity. To support this, the bank has introduced all-gender restrooms in its larger office spaces, offering a safe and inclusive environment for all individuals.

“We recognize that employees could have a gender or gender expression that’s different from their sex assigned at birth. They can choose to dress in accordance with their gender/gender expression,” stated Axis Bank in a release of this initiative. The bank’s commitment to diversity and inclusion is further emphasized by the presence of a human rights policy, which addresses any challenges faced by employees from the LGBTQIA+ community and offers a mechanism for redressal.

Not only does Axis Bank prioritize inclusivity within its workforce, but it also extends its support to customers from the LGBTQIA+ community. Starting from September 20, 2021, customers will have the opportunity to open joint savings bank accounts or term deposits with their same-sex partners at Axis Bank branches. Additionally, customers can nominate their same-sex partners as beneficiaries for their savings or term deposit accounts. These measures provide an essential avenue for LGBTQIA+ individuals to access financial services and enjoy the same benefits and rights as any other customer.

The bank goes even further to accommodate individuals who identify as gender non-binary, gender-fluid, or transgender. Such customers will have the option to choose the title “Mx” when opening savings or term deposit accounts. This inclusive approach respects and acknowledges the diverse identities of customers, ensuring that their banking experience is aligned with their self-perceived gender identity.

“At Axis, we have put our focus on diversity, equity, and inclusion that respects and recognizes the importance of distinctive life journeys and several identities that extend beyond the paradigms of gender. This for us is as much about the invisible markers as it is about the visible ones,” said Rajesh Dahiya, Executive Director of Axis Bank. “It is our belief that it fosters a culture of innovation and leverages the multiple talent pools that exist in a rich demography like ours.”

The introduction of these inclusive policies by Axis Bank marks a significant milestone in the corporate world’s journey towards LGBTQIA+ inclusivity in India. By embracing the LGBTQIA+ community and ensuring equal opportunities, rights, and benefits for all employees and customers, Axis Bank sets an example for other organizations to follow.