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Citibank NA

Corporate Social Responsibility Policy


1.1 Preamble
The Ministry of Corporate Affairs (MCA) has formalized certain obligations of the Indian Corporate
Sector in the area of Corporate Social Responsibility (CSR) in the Companies Act, 2013 (the Act).
Various explanatory notifications have also since been issued operationalizing various aspects of the
Citibank N.A. India branch has developed this Corporate Social Responsibility Policy (the Policy) to
comply with the requirements of Section 135 of the Act and the Companies (Corporate Social
Responsibility Policy) Rules, 2014 (the Rules).
1.2 Objective
CSR is strongly connected with the principles of Sustainability; an organization should make decisions
based not only on financial factors, but also on the social and environmental impact of such actions.
Therefore, it is the core corporate responsibility of the company to practice its corporate values
through its commitment to grow in a socially and environmentally responsible way, while meeting the
interests of its stakeholders.
1.3 Owner
This policy is owned by Corporate Affairs and Finance. This policy, and any changes to this policy, must
be approved by the CFO and the Head Corporate Affairs and will become effective only on ratification
by the Local Operations Management Committee (LOMC).
1.4 Effective Date
This policy is effective 1 April 2014 and all CSR activities conducted during April November 2014 are
hereby ratified.
1.5 Applicability
The Policy will apply to all CSR projects undertaken by Citibank India in India as per Schedule VII of the
Act, as may be amended from time to time.



Local Operations Management Committee (LOMC)

The LOMC will be responsible for:

Approval of the Policy, subject to any changes/modifications that the LOMC may deem
Ensuring that Citibank India spends, in every financial year, at least two per cent of the average
net profits of the bank (as defined in the Act) made during the three immediately preceding
financial years subject to applicable policies and guidelines issued by the RBI.

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Disclosing the content of the Policy in its annual report and on the website of Citibank India, if
Forwarding a detailed report on CSR spending in line with the requirements specified in the Act
and Rules.
Ensuring that CSR projects/programs undertaken by Citibank India are in compliance with the
Specifying the reasons for not spending the required amount on CSR projects/programs in its
annual report, in the event Citibank India fails to spend such amount
Making any changes to the composition of the CSR Committee that it may deem fit, provided
however, that the composition of the Committee must be in compliance with the Act and the
CSR Committee

The Bank will form a CSR Committee (the Committee).

The Committee shall consist of the CCO, CFO, CHRO, CBM, Head of Corporate Banking, PAO and
Head of Citizenship
An internal or external advisor may be appointed by the Committee to advise the Committee on CSR
The composition of the Committee shall be disclosed by the LOMC in the annual accounts in
accordance with the format provided in the Rules.
The Committee shall be responsible for:


Recommending to the LOMC, CSR projects/programs to be undertaken by the Company

Recommending to the LOMC, expenditure to be incurred for each CSR project/program
Recommending modifications/changes to the Policy, as necessary, to the LOMC
Implement and monitor CSR activities and provide timely updates to the LOMC

CSR Programmatic Areas

The Bank is committed to undertake CSR projects/programs in alignment with the following areas as
indicated in Schedule VII of the Act, as may be amended from time to time, including:


Eradicating hunger and poverty and malnutrition, preventive healthcare and Sanitation
Supplementing government schemes like mid-day meals through additional nutrition
Provisions of aid and appliances to differently abled
Livelihood enhancement projects
Promotion of Education
Educating the masses and promoting road safety awareness in all facets of road usage
Research and studies in areas specified under CSR
Gender equality and women empowerment
Ensuring environmental sustainability including renewable energy projects
Contribution to the Prime Minister's Relief Fund and other similar welfare schemes
Protection of national heritage, armed forces benefit, rural sports, rural development and
contributions to technology incubators and academic institutions

The LOMC may decide to undertake /carry out its CSR activities in India approved by the Committee
through a registered trust or registered society or section 8 company established by Citibank India or its

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subsidiary or associate company or undertake implementation through other partners such as third
party NGOs with track record of 3 years.
Citibank India may also collaborate with other companies for undertaking projects or programs or CSR
activities in such a manner that the CSR Committees of respective companies are in a position to report
separately on such projects or programs in accordance with with the Act and the Rules.
Citibank India will ensure that surplus arising out of CSR projects or programs or activities shall not be
treated as profits from business operations and will be ploughed back in the respective projects or
programs or activities

Monitoring and Reporting

a. The Committee shall monitor and review the progress of activities undertaken/ completed.
b. The LOMC will on a quarterly basis review the implementation of the Policy and CSR Activities.

The LOMC shall monitor effectiveness of various programmes undertaken and involve external
and/or internal subject matter experts if it so deems fit.

d. The LOMC report shall consist of a section on CSR as per the format prescribed under the
e. The LOMC may engage auditors/third parties to assess the CSR spends undertaken by
Citibank India to ensure compliance with the Act, Rules and this Policy, adequacy of controls
and monitoring/reporting framework.


Citibank India may undertake CSR activities collaboratively with other Citi India affiliates and be
guided by Citis internal policies.


Citibank India reserves its right to amend or modify the Policy in whole or in part, so long as it is not
inconsistent with the provision of the Act and Rules.

Last modified on 6-4-15