Responsibilities And Responsibilities Of The HDFC Board

The board carries out the duties in regard to the interest of the companies’ shareholders, staff,

Common stockholders are the basic owners of a corporation, but few stockholders of large corporations take an active role in management. Instead, they elect the corporation’s board of directors to represent their interests. Board members seldom get involved in the day-to-day management of the company. They establish the basic mission and goals of the corporation and appoint

To ensure that the company thrives and overcomes the crisis that may come on the way, the company has various strategies and ways to overcome that and to keep the company on the track which includes constitution and board of directors which has various roles and responsibilities. The company has got a constitution and also corporations’ act. The companies’ values are the trust, integrity and honesty. The board carries out the duties in regard to the interest of the companies’

It is essential that the role, duties and responsibilities of directors are clearly defined. The Combined Code (2006) states that “the board’s role is to provide entrepreneurial leadership of the company within a framework of prudent and effective controls which enables risk to be assessed and managed”.

* The roles and responsibilities of the board of directors in corporate governance and the way the board affects a company’s operation.

It is the board's responsibility to consider and authorize a suitable remuneration package for the company's chief executive officer (CEO), make recommendations with respect to the attractiveness of dividends and dividends pay out, approve stock splits, form the audit committees, approve the company's financial statements, oversee management’s involvement in the shareholders and other stakeholders long-term interests and recommend or discourage major decisions such as acquisitions and mergers.

Usually in corporations there is a clear distinction between the people who take critical decision – Board of Directors – and the people who actually execute the decisions – management. In FBM, many managers were also part of the Board. This arises conflicts of interest. This should be avoided.

It is necessary for human resource management to have a proper human resource planning. “Human resource planning involves planning that assure a firm’s needs for employees”, says Madura. She also includes that human resource planning consists of three tasks which are forecasting staffing needs, job analysis (Madura, 2007). Recruiting and selecting the right employee is not enough. There is a necessity to provide continuous training and development to the employees to be more productive and efficient. With great training, it enables the employees to be more innovative, creative, motivated and thus increase their working performance. Training can be through various types such as on the job training, off the job training, job rotation and scholarships.

The Board of the Company consists of 11 (eleven) Independent Directors and 2 (two) Inside Directors. They have expertise in the areas of business, finance, law, audit and public companies.

The primary responsibility of the Board of Directors is to protect the interests of shareholders and maximize their wealth, guaranteeing the growth of the value of the corporation. Members of the Board of Directors are responsible for all affairs of the corporation and, in case of its bankruptcy, they may be involved in administrative and criminal proceedings. The Board of Directors dimension shall be determined by the needs of effective management, but the minimum number in accordance with the laws of each state can be from one to three members.

Hdfc bank also known as the housing development and fincial corporation. HDFC was incorporated in the year 1994 with its registered office in Mumbai, India. The bank’s first fully functional corporate office and service branch was inaugurated by former union Finance Minister, Manmohan Singh at Sandoz House, Worli.

For the purpose of this report, corporate governance is defined as the relationship that exists between company management, stakeholders and the board. Objectives of the company are usually set, attained and monitored through the structure corporate governance provides. (Balgobin 2008).The Guyana Corporate Code of Governance is similar to the UK codes of corporate governance and the Organisation for Economic Co-operation and Development (OECD 2004).These principles serve as a reference point that can be used by companies to develop their own frameworks for corporate governance that reflect their own circumstances or situations.

The Saudi Arabia Ministry of Foreign Affairs has a five year applied strategic plan (ASP) to develop the performance of its human resources. This ASP is put in place to help senior leaders establish a better outcome form new hired employees at the ministry. The purpose of this ASP is to draft a roadmap for new employees to enroll in training and gain techniques. The foundation of this plan is training for employees on learning new techniques. That the human resources (HR) applied strategic plan is in place, but not very efficient to accomplish their goals. A re-examination is needed.

The precise legal details of the corporation’s differ across countries. The company law of the U.K is similar to the company law of the U.K because they share a common origin. The managers in both countries have a fiduciary duty to the shareholders. In other words, they have a strong requirement to act in the interests of shareholders. The channel through which shareholders exercises control of company affairs is the board of directors. The board is elected by shareholders and typically on a one-share vote basis. Sometimes multiple classes of shares exits, the main difference between classes being the number of votes each share has attached to it. The board of directors consists of a mix outside directors and inside directors, the latter being the top executives of the firm. It is rare that the Chief Executive Officer (CEO) is not on the board. In both U.S and U.K the CEO often acts as chairman as well. Once elected the board of directors of directors specifies the business policies to be pursued by the firm. The role of management is to implement the policies determined by the board. Shareholders have very little say in the affairs of the company beyond electing directors. For example, it is the directors who decide on their own compensation, without any input from shareholders. A committee of outside directors determines the senior management’ compensation. Except in unusual circumstances, such as a proxy fight, the outside

Manpower Training and Development is a very important aspect of human resources management which must be embarked upon either proactively or reactively to meet any change brought about in the course of time. The rationale behind it is to web the job and the job-holder together to achieve the organizational objectives.