The concept of inclusion is undergoing a rapid transformation in India, driven by a multitude of stakeholders across various sectors.
The finance industry has been at the forefront of this movement in the corporate sector.
Beyond mere rainbow branding, several finance companies in India are actively implementing progressive policies to foster LGBTQIA+ inclusion and promote a more inclusive society at large.
Led by top names such as Axis Bank, Goldman Sachs, JP Morgan, Protium and Wells Fargo have advocated for the rights and welfare of the LGBTQIA+ community.
Axis Bank ensures that all employees, regardless of gender, sex, or marital status, can list their partners for mediclaim benefits. It also allows customers to open joint accounts and add same-sex partners as nominees. Additionally, customers can choose the title ‘Mx’ in their savings or term deposit accounts.
Goldman Sachs celebrates Pride month and conducts events to sensitise employees to different sexual orientations and gender identities. It hoisted the pride flag and the transgender flag at their Bengaluru campus. The company implemented gender-inclusive policies, allowing for self-identification and providing internal networking opportunities.
Wells Fargo has implemented a train-and-hire model in collaboration with PeriFerry, a non-profit organisation dedicated to upskilling and providing career training for transgender individuals. This program not only provides valuable employment opportunities but also empowers transgender individuals by equipping them with the necessary skills and support to thrive in the workplace.
JPMorgan has introduced a transgender internship program. This 20-week program, supported by the Office of LGBTQ+ Affairs, includes eight weeks of classroom training with a non-profit partner followed by a 12-week internship at JPMorgan Chase & Co in India corporate centers across various lines of businesses. The program not only provides valuable work experience but also offers mentorship and support to transgender individuals.
Protium had organised impactful speaker sessions featuring three speakers from the LGBTQIA+ community and attracted 1 lakh viewers on its live stream. It has made Policy Against Sexual Harassment gender-neutral, ensuring protection for employees regardless of their gender or sexual orientation.