Axis Bank Unveils New Policy For LGBTQIA Comunity, Allows Same-Sex Couple To Have Joint Accounts

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Axis Bank Unveils New Policy For LGBTQIA Comunity, Allows Same-Sex Couple To Have Joint Accounts

Among other things, employees will be allowed to list their partners for mediclaim benefits irrespective of their gender, sex or marital status.

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Three years after the Supreme Court decriminalised Section 377, Axis Bank on Monday, September 6, announced a charter of policies and practices for its employees and customers from the LGBTQIA+ (lesbian, gay, bisexual, trans, queer, intersex, asexual, among others) community.

The bank said that the initiative is part of its wider environmental, social, and governance (ESG) commitments.


The Initiatives

Under the new policies:

  • Employees can apply for mediclaim benefits on behalf of their partners irrespestive of gender, sexual orientation, or marital status
  • Employees can dress in accordance with their gender/gender expression
  • Employees have the option of using the restroom that best suits their gender expression/gender identity
  • Effective from September 20, the bank's customers can open a joint savings bank account or a term deposit with their same-sex partner at its branches, while they can also make their same-sex partner a nominee for their savings or term deposit account with the bank
  • Members from the community will be able to list their title as 'Mx' in their savings and term deposit accounts

Among other things, the company said it has initiated all gender restrooms at its large offices. "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," it said. Employees can also redress their grievances.

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