Indian Banks & New Accounting Standard

The need to maintain optimal diversity on the board

It is clear that there needs to be more diversity in the boardroom. But what does that really mean? Let’s start with a bit of context. Over the last few years, India’s listed companies have seen a surge in exposed governance lapses, and the trend is worrisome. The fact that these include some of the biggest names and brands in the industry is not reassuring.

Having a diverse representation, specifically gender diversity, on the boards is critical for many reasons. The overarching outcome is that it helps a company be more successful and do more in terms of sustainability. Some of the benefits of having more female representation on boards include the following: