Curated By: Business Desk
Last Updated: September 01, 2023, 12:14 IST
The new HR policy is effective from September 1.
Standard Chartered’s India and South Asia head Shivshanker SV said that benefits such as this help address globally prevalent societal norms around traditional roles.
The Standard Chartered Bank on Wednesday announced that a 20-week paternity and adoption leave will be given to employees around the world as part of its inclusion drive. The British multinational bank in the statement mentioned that the leave will be made available irrespective of gender, relationship status or how a child comes to permanently join an employee’s family, reported PTI.
The new HR policy is effective from September 1. This reform is part of the bank’s commitment to encouraging an inclusive culture where employees are supported in balancing their personal lives with building successful careers.
Standard Chartered’s India and South Asia head Shivshanker SV said that they believe benefits such as this help address globally prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. He also mentioned this move will positively impact families’ financial well-being and create a more inclusive workplace.
In India, the maternity benefits will continue to be at 26 weeks in line with statutory requirements, said the statement.
The group head of Human Resources, Tanuj Kapilashrami added that this policy will bring a positive impact on families’ financial well-being and create a more inclusive workplace that supports every individual’s unique family planning choices.
Standard Chartered Bank has a network of 100 branches across 42 cities in India offering corporate, commercial and institutional banking along with consumer, private and business banking. It is the second oldest foreign bank present in India after the Hong Kong and Shanghai Banking Corporation Limited (HSBC) and employs around 83,000 employees globally. Of them, around 30,000 employees, including 20,000 males are based in India.
Under the Paternity Benefit Bill 2017, fathers working in all sectors, including private and unorganised, are entitled to paternity leave. Fathers will get 15 days of fully paid leave out of which up to seven days they can avail preceding the expected date of pregnancy. The leave can be taken within three months from the child’s delivery date.
