UCO Bank

BUSINESS RESPONSIBILITY REPORT

SECTION A: GENERAL INFORMATION ABOUT THE COMPANY

1 Corporate Identity Number (CIN) of the Company Not applicoable
2 Name of the Company UCO BANK
3 Registered address 10, B.T.M. Sarani, Kolkata - 700 001
4 Website www.ucobank.com
5 E-mail id hosgr.calcutta@ucobank.co.in
6 Financial Year reported 2016-17
7 Sector(s) that the Company is engaged in (industrial activity code-wise) UCO Bank is established under Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. UCO Bank with a network of more than 3104 branches spread across the country, participate actively in the growth of all segments of the economy - Agriculture, Industry, Trade & Commerce, Service Sector, Infrastructure Sector etc., with a mission to achieve sustained growth of business and profitability, fulfilling socio-economic obligations, excellence in customer service making use of state-of-the-art technology and skilled human resources.
8 List three key products/services that the Company manufactures/provides UCO Bank is engaged in providing wide range of banking and financial services including Retail Banking, Corporate Banking and Treasury Operations.
9 Total number of locations where business activity is undertaken by the Company
  1. Number of International Locations
  2. Number of National Locations
As on 31.03.2017, UCO Bank has a net-work of 3100 branches spread across India and four overseas branches situated at Hong Kong and Singapore centres.
10 Markets served by the Company - Local/State/National/International UCO Bank has clients in National and International locations.

SECTION B : FINANCIAL DETAILS OF THE COMPANY

1. Paid up Capital Rs. 1559.72 crores
2 Total Turnover : Rs.332939 crore
3 Total Loss (-)1850.67 crore
4 Total Spending on Corporate Social Responsibility (CSR) Rs.20.85 crore spent on Corporate Social Responsibility
5 List of activities in which expenditure in 4 above has been incurred : Bank took up several activities under Corporate Social Responsibility. Few of the activities are listed under Principle 8.

SECTION C : OTHER DETAILS

1. Does the Company have any Subsidiary Company/Companies? NO
2 Do the Subsidiary Company/Companies participate in the BR Initiatives of the parent company? If yes, then indicate the number of such subsidiary company (s): Not Applicable
3 Do any other entity/entities (e.g. suppliers, distributors etc.) that the Company does business with, participate in the BR initiatives of the Company? If yes, then indicate the percentage of such entity/entities? (Less than 30%, 30-60%, More than 60%) : NO

SECTION D : BR INFORMATION

1. Details of Director/Directors responsible for BR

  • Details of the Director/Directors responsible for implementation of the BR Policy/Policies
    • DIN : 07186055
    • Name : Shri G. Subramania Iyer
    • Designation : Executive Director

  • Details of the BR head
    Sl.No. Particulars Details
    1 DIN (if applicable) Not Applicable
    2 Name Shri Ronnie Gupta
    3 Designation General Manager
    4 Telephone number 44558060
    5 E-mail id hopdev.calcutta@ucobank.co.in

2. Principle-wise BR Policy/policies

Sl.No. Questions Principles of National Voluntary Guidelines (NVG)
1 2 3 4 5 6 7 8 9
1 Do you have a policy/policies for the said principle? Yes
2 Has the policy being formulated in consultation with the relevant stakeholders? Yes
3 Does the policy conform to any national /international standards? The Business Responsibility Policies of the Bank are generally formulated duly considering the guidelines issued by Government of India, Reserve Bank of India from time to time.
4 Has the policy being approved by the Board? Yes
5 Does the company have a specified committee of the Board/ Director/Official to oversee the implementation of the policy? Yes
6 Indicate the link for the policy to be viewed online? https://www.ucobank.com/about-us
7 Has the policy been formally communicated to all relevant internal and external stakeholders? Yes. The policies relating to the Business Responsibility principles are uploaded on the Bank's website. Stakeholders are kept informed about these policies at the meetings with the relevant internal and external stakeholders groups.
8 Does the company have in-house structure to implement the policy/policies Yes
9 Does the Company have a grievance redressal mechanism related to the policy/policies to address stakeholders' grievances related to the policy/policies? Yes.
10 Has the company carried out independent audit/evaluation of the working of this policy by an internal or external agency? The activities taken up by the Bank under the principles of Business Responsibility are reported to the Board/Top Management for its review/evaluation.

3. Governance related to B R

Indicate the frequency with which the Board of Directors, Committee of the Board or CEO to assess the BR performance of the Company. Within 3-6 months, Annually, More than 1 year

Annually

Does the Company publish a BR or a Sustainability Report? What is the hyperlink for viewing this report? How frequently it is published?

Bank publishes BR report annually. The hyperlink for viewing the report is http://www.ucobank.com/about us

SECTION E : PRINCIPLE-WISE PERFORMANCE

Principle 1 : Businesses should conduct and govern themselves with Ethics, Transparency and Accountability

The Bank''s business policies are woven around the core values of transparency and professionalism. Details of corporate governance standards can be found in the 'Report on Corporate Governance' section of annual report.

Bank has laid down Code of Conduct for its Directors on the Board and its Core Management that envisages adherence to the highest standards of honest and ethical conduct, including proper and ethical procedures in dealing with actual or apparent conflicts of interest between personal and professional relationships. Board of the Bank framed UCO Bank Officer Employees'' (Conduct) Regulations, 1976 which envisages conduct of the officer employees of the Bank.

Besides the above, the Bank follows primarily the CVC guidelines as contained in the Vigilance Manual issued by the Central Vigilance Commission (Link: http://cvc.nic.in/ man04.pdf) in relation to ethics, bribery and corruption.

Response to principle-wise performance :

1. Does the policy relating to ethics, bribery and corruption cover only the company?
Does it extend to the Group/Joint Ventures/Suppliers/Contractors/NGOs/Others?

The policies relating to ethics, bribery and corruption covers the Bank and its employees. Bank does not have subsidiaries or joint ventures.

2. How many stakeholder complaints have been received in the past financial year and what percentage was satisfactorily resolved by the management ?

Bank has put in place a Customer Grievance Redressal Policy, approved by the Board, with an aim to minimise instances of customer complaints and grievances through proper service, delivery and review mechanism and to ensure prompt redressal of customer complaints and grievances. The Policy is made available on Bank's website.

Customer Service Committee of the Board has been constituted for review of policies in regard to improving customer service and also to examine issues having a bearing on the quality of customer service rendered by the bank.

Further to strengthen the internal Grievance Redressal mechanism of the Bank, the Chief Customer Service Officer (CCSO) (Internal Banking Ombudsman) has been appointed by the Bank with the objective of enabling customers of the Bank to access an independent arbitrator for their complaints, when they are not satisfied with the resolution provided by the Bank.

During the financial year (2016-17), 18,991 customer complaints were received, out of which 18,704 (98.48%) were satisfactorily resolved.

Principle 2: Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle

Success of the organisation largely relies upon developing right kind of products that suits the needs of its customers. Banking Industry being the key player in driving the economic growth of the country continuously strives to develop financial products and services for different sectors of the economy whether it is corporate or MSME sector, exports, agriculture, infrastructure or the personal segment.

In order to build more sustainable future, Bank continuously brings in innovation in its products and services for meeting the changing needs of the society and customer preferences by making best use of technology.

As a part of technological initiatives in customer service, Bank launched RuPay Card transaction enabled Tab based Micro ATM called UCO SARATHI, which can be used by BC Agents (Bank Mitr) for offering a wide range of Banking Services. These Micro ATMs are equipped with plethora of banking services including online opening of RD & FD to Bank's customer. Aadhaar enabled services, E-KYC; RuPay Card PIN based transactions; real time Remittance through IMPS system for both existing and walk-in customer, mobile recharge and other bill payments; Micro Insurance products like PMJJBY & PMSBY and social security schemes like APY (Atal Pension Yojna).

Response to principle-wise performance :
1. List up to 3 of your products or services whose design has incorporated social or environmental concerns, risks and /or opportunities :

Products & Services of the Bank do not pose any risk to the society at large. Rather they would be helpful to the society in providing employment opportunities and economic development of the country. Few loan products are designed to address environmental concerns which include finance to renewable energy (green energy) companies involved in the activities of Wind Mills, Solar Energy etc.

2. For each such product, provide the following details in respect of resource use (energy, water, raw material etc.) put unit of product (optional) :

i. Reduction during sourcing/production/distribution achieved since the previous year throughout the value chain? NA

ii. Reduction during usage by consumers (energy, water) has been achieved since the previous year?NA

3. Does the company have procedures in place for sustainable sourcing (including transportation)?
NA

4. Has the company taken any steps to procure goods and services from local & small producers, including communities surrounding their place of work?
NA

5. Does the company have a mechanism to recycle products and waste? If year, that is the percentage of recycling of products and waste (separately as <5%, 5-10%, >10%). Also, provide details thereof, in about 50 words or so.

Bank is not a manufacturing unit and the waste generated in its offices is managed by following the procedures for disposal of wastes.

Principle 3: Businesses should promote the well-being of all employees

One of the Vision of UCO Bank is to become a place of pride for its employee. With this vision Bank function and gives utmost importance to its staff members and their wellbeing.

Principal of equality:

During recruitment in Bank's service merit and competency is the core criteria for selection. All candidates are judged according to merit. In promotion process equal opportunity is being given to all applicants irrespective of caste, creed, gender, race, religion and disability, if any, as per GOI guidelines and laid down policy of the Bank.

Employee Strength:

As of 31st March 2017, the total count of employees is 24620, out of which 5610 are women employee and 497 are persons with disability. It is needless to mention that Bank does not engage child labour, forced labour or any form of involuntary labour paid or unpaid. We adhere to the Govt. Guidelines issued time to time. There is liberty to all employees to be a member of any union or not. However, most of the employees are member of some union.

Employee Benefits and Work Life Balance :

To enact the vision of the bank for its employee, bank runs several employee welfare schemes. It includes provident fund, gratuity, pension, medical benefits, concessionary interest rate advance, higher interest rate on deposits, holiday homes etc., are few one to site. In this ordeal it includes both the welfare schemes of employee as well as their family members namely UCO Diamond jubilee Scholarship scheme and Prize Scheme. Besides this bank has a policy for option provided to lady officer for change of posting to their choice zones either to join their spouse in case of married officer or for joining their parents in case of unmarried officer. These welfare measures specially canteen subsidy, education, medical & hospitalization etc. supplemented by monthly health bulletin contribute in maintaining work life balance. Besides this Bank along with its staff members celebrate Independence Day, Republic Day, Bank's foundation Day together.

Working Environment:

Though Bank provides safe, hygienic, humane dignified work place environment to all its employee but specially for lady officers bank has established Sexual Harassment Redressal Committee as well as grievance redressal system for redressal of complaints relating to these matters. These measures enable employees to feel safe and secure in discharging their responsibilities at Bank.

Skill and competence upgradation :

Training is a tool to equip the human resources with adequate job knowledge and skill besides shaping their behaviour ad attitude. Training need is being assessed and accordingly all the employees are imparted with training at both external Institute and Bank's training centres. Bank has one Central Staff College situated at Kolkata Salt Lake and 7 Regional Training Centres at Chandigarh, Bhopal, Durgapur, Jaipur, Chennai, Bhubaneswar and Ahmedabad. Besides this, to meet emerging demands or region specific training, locational training is also carried out. This enables the employees to keep their knowledge updated as well as sharpen the skills. Total 14006 numbers of employees have been trained in Financial Year 2016-17.

Principle 4: Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalised

Bank builds strong relationship with internal as well as external stakeholders by continuously engaging with them for making informed decisions in enhancing innovation in services offered. Bank at its various levels frequently engages with its stake holders viz Investors and Shareholders, Customers and Clients, Employees, Government and Regulators, Communities and NGOs. To achieve excellence in customer service, Bank has taken up measures like appointment of Relationship Managers, establishment of 24 x 7 Call centre to address any queries of the customers, conducting training programmes to employees and educating customers about various special features associated with the products of the Bank. Bank has developed portals to communicate with the employees and to enrich their knowledge.

Response to principle-wise performance:

1. Has the company mapped its internal and external stakeholders? Yes.

2. Out of the above, has the company identified the disadvantaged, vulnerable & marginalised stakeholders? Yes

3. Are there any special initiatives taken by the company to engage with the disadvantaged, vulnerable and marginalised stakeholders. If so, provide details thereof, in about 50 words or so.

Several initiatives aiming at economic prosperity of the weaker sections of society viz small and marginal farmers, artisans, scheduled castes and scheduled tribes, distressed farmers indebted to non institutional lenders, persons with disabilities, minorities etc., are taken through extending fair and equitable portion of credit to these stakeholders within the overall target of Priority Sector.

Principle 5 : Businesses should respect and promote human rights

Bank respects human rights and acts without discrimination duly respecting the dignity of every individual. Bank adopted Fair Practice Code which covers the aspects like good & fair banking practices, transparency in services and products. The recruitment policy of Bank does not allow recruitment/engagement of Child labour, forced labour. Besides this, Bank has Internal Complaints Committee for Redressal of complaints on Sexual Harassment at Head Office level. Bank does not discriminate either staff or customer on the basis of caste, creed, gender or religion and strictly follows the Govt. Guidelines in this matter.

1. Does the policy of the company on human rights cover only the company or extend to the Group/Joint Ventures/Suppliers/Contractors/NGOs/Others?

Not Applicable. Bank does not have any subsidiaries.

2. How many stakeholder complaints have been received in the past financial year and what percent was satisfactorily resolved by the management?

Nil.

Principle 6: Businesses should respect , protect and make efforts to restore the environment

UCO Bank through its judicious lending contributes greatly to the environment and to the society. The projects that take environmental considerations are scrutinized thoroughly at various levels before lending. Bank encourages projects that show its concern for the environment in the form of sustainable development, use of renewable natural resources, waste minimization, pollution prevention, occupational health and safety, energy efficient, care of human health and many similar attributes that tries for the betterment of the society. Further, bank will also monitor that its clients comply with the environmental norms while operating their projects.

Bank encourages employees and its clients to resort to paperless banking by minimising paper work to the optimum level and following electronic media in the areas of customer service like providing e-statements to the customers, opening of the accounts through online, and also in its internal functioning.

Bank endeavours to optimise environmental footprint by conserving, restoring, and replacing the natural resources used in its operations. Bank encourages its employees to prevent wasteful use of natural resources. In order to reduce carbon foot print and to conserve energy, Bank installed CFL & LED lights, eco-friendly refrigerant gas in air conditioners in several of its offices. Green Generators are being used in few of the branches to minimise pollution. Products like particle boards made out of waste wood products were used for some of Bank's fixtures.

Bank complies with applicable environmental regulations in respect of premises and operations. Bank participates in the initiatives taken up by the local and central government towards addressing environmental issues.

  1. Does the policy related to Principle 6 cover only the company or extends to the Group/Joint Ventures/Suppliers/Contractors/NGOs/Others.
    Not Applicable. Bank does not have any subsidiaries.
  2. Does the company have strategies/initiatives to address global environmental issues such as climate change, global warming, etc?
    As explained above under Principle 6.
  3. Does the company identify and assess potential environmental risks?
    As explained above under Principle 6.
  4. Does the company have any project related to Clean Development Mechanism ?
    None.
  5. Has the company undertaken any other initiatives on -clean technology, energy efficiency, renewable energy, etc.
    Not Applicable.
  6. Are the Emissions/Waste generated by the company within the permissible limits given by CPCB/SPCB for the financial year being reported ?
    Not Applicable.
  7. Number of show cause/legal notices received from CPCB/SPCB which are pending (i.e. not resolved to satisfaction) as on end of Financial Year.
    Not Applicable.

Principle 7: Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner

Bank designs its products and services within the frame work of the regulatory policy and with the objective to bring in economic development of the country. The Board of the Bank has laid out a Publicity Policy for implementation of the Publicity & PR related activities. It contains the guidelines for popularising the Bank's Products, Services and Initiatives etc among masses across the Nation.

1. Is your company a member of any trade and chamber or association? If Yes, Name only those major ones that your business deals with :

Bank is a member of Indian Banks'Association.

2. Have you advocated / lobbied through above associations for the advancement or improvement of public good?

Bank closely works with these associations and gives vital inputs for the policy makers in evolving economic and financial strategies.

Principle 8 : Businesses should support inclusive growth and equitable development

Inclusive Growth

Bank contributed largely to the objective of bringing the excluded masses under the umbrella of structured banking system with an aim to inculcate habit of saving among the people who are so far excluded from the economic mainstream and to cater to the credit needs of people below the poverty line. Bank has so far opened more than 57.21 lakh accounts under the Government of India's mission mode financial inclusion project "Prime Minister Jan Dhan Yojna"and mobilized Rs.1263 Crore in these accounts.

Bank took part in the initiative of Government of India in providing social security to the people of the country through successful implementation of insurance and pension schemes like Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY), Pradhan Mantri Suraksha Bima Yojna (PMSBY), Atal Pension Yojna (APY). Under PMJJBY scheme, around 4.81 lakh subscribers are insured whereas under PMSBY scheme more than 11.03 lakh lives are insured. Total subscribers under Atal Pension yojna crossed 51,000 during the year.

Bank took part in the Pradhan Mantri Awas Yojana launched by Government of India to extend central assistance for economically weaker section and low income group for acquiring affordable houses. Bank has signed memorandum of understanding with National Housing Bank for implementation of this scheme. Assistance of Rs.6.5 lakh is being extended to the eligible borrowers and concession in interest rate @6.5% per annum is being provided upfront to reduce EMI and principal loan amount. Our Bank assisted to 57 beneficiaries to the tune of Rs.224 lakh upto Feb, 2017.

Corporate Social Responsibility

Bank has taken several programmes/initiatives as a part of Corporate Social Responsibility. Few of these programmes/initiatives are as under:

  1. Twenty Seven Rural Self Employment Training Institutes are set up by the Bank in seven states namely Himachal Pradesh, Odisha, Assam, Bihar, Punjab, west Bengal and Rajasthan to impart training and skill upgradation for rural youth with dedicated infrastructure. These institutes are set up by the Bank as a part of initiative taken up by the Ministry of Rural Development to establish dedicated training Institutions for development of entrepreneurship skills in rural youth. Bank has sanctioned Rs.8.55 Crore under this programme.
  2. Bank adopted two villages namely Bishari and Ghatti in Shimla and Solan Districts with an outlay of Rs.20.44 lakh.
  3. Bank approved an outlay of Rs.10.48 lakh for developmental activities in two villages namely Jalanga and Alish under Balasore Zone and Bhubaneshwar Zone respectively.
  4. Plantation activity on Parikrama Marg, Shri Giriraj Talahti, Goverdhan (Mathura) was taken up with an expenditure outlay of Rs. 13.76 lakh.
  5. JAL doot, an auto mounted vehicle supplying clean and drinkable water to people living in far flung deficit areas in Odisha is provided with an outlay of Rs.12.76 lakh.
  1. Does the company have specified programmes/initiatives/projects in pursuit of the policy related to Principle 8? If yes, details thereof.
    As explained above.
  2. Are the programmes/projects undertaken through in-house team/own foundation/external NGO/government structures/any other organization?
    As explained above.
  3. Have you done any impact assessment of your initiative?
    As explained above.
  4. What is your company's direct contribution to community development projects - Amount in INR and the details of the projects undertaken?
    As explained above.
  5. Have you taken steps to ensure that this community development initiative is successfully adopted by the community?
    As explained above.

Principle 9: Businesses should engage with and provide value to their customers in a responsible manner

Achieving customer delight by understanding their pulse has been the prime objective of the bank. In achieving the same, bank has intently listened to what customers feel about our products, services and our channels.

At the field, the customer facing branch staffs provide the feedback regarding the customer's responses and opinions regarding our services/products/channels. Customers also provide us feedback on our Bank's website. We compile these feedback and act on the suggestions for improvement immediately. Apart from these, the customers write to us, which also provides a good source of learning their pulse. Our umpteen customer interactions through our call centres serve as rich source of learning regarding customer satisfaction. The bank also conducts regular customer meets.

The bank has a dedicated customer service cell to be available to customers, when they are in need. The bank has a robust grievance redressal mechanism for customers. To facilitate timely and efficient disposal of customer complaints, the bank has a complaint management portal which has dedicated team of people who are expediting complaint resolution through their dedicated efforts.

Response to principle-wise performance :

  1. What percentage of customer complaints/consumer cases are pending as on the end of financial year.

    Only 287 i.e. 1.52% of customer complaints are pending for FY 2016-17.

  2. Does the company display product information on the product label, over and above what is mandated as per local laws? Yes/No/NA/Remarks (additional information).

    Not Applicable

  3. Is there any case filed by any stakeholder against the company regarding unfair trade practices, irresponsible advertising and/or anti-competitive behaviour during the last five years and pending as on end of financial year. If so, provide details thereof, in about 50 words or so.

    No.

  4. Did your company carry out any consumer survey/consumer satisfaction trends?

    Bank obtains feedback on continuous basis about customer's satisfaction through online customer feedback page and by direct interaction. .

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