Standard Chartered Bank announces 20-week paternity and adoption leave benefit for staff

Mumbai: British lender Standard Chartered Bank on Wednesday announced a 20-week paternity and adoption leave for its employees globally as part of its inclusion drive.

The enhanced 20-week paternity and adoption leave is irrespective of the gender, relationship status or how a child comes to permanently join an employee's family, the bank said in a statement.

For India, maternity benefits will continue to be at 26 weeks in line with the statutory requirements, it added.

The country's second oldest foreign bank after HDBC, StanChart employs around 83,000 employees globally. Of them, around 30,000 employees, including 20,000 males, are based in India.

The bank said the enhanced paternity and adoption leave benefits will be effective September 1, helping its employees give more equitable caregiving responsibilities for their children.

With these benefits, employees can avail up to 20 weeks of paid paternity and adoption leave, irrespective of the gender, relationship status or how a child comes to permanently join an employee's family, the bank said, adding that the move is part of the bank's commitment to foster an inclusive culture.

Tanuj Kapilashrami, group head of human resources, said that this move will positively impact families' financial wellbeing and create a more inclusive workplace that supports each individual's unique family planning choices.

Standard Chartered has been present in the country for the past 160 years and has a network of 100 branches across 42 cities offering corporate, commercial and institutional banking along with consumer, private and business banking.