|Board & Governance||| Print ||
The Boards of Directors of BASIX Group of Companies
Recognizing the role of the Board in balancing the ‘public purpose’ goals and ‘profit oriented’ means, the Boards of BASIX Group of Companies have always had eminent independent Directors reflecting a balance between professionals from the development sector, the mainstream financial sector and some from training, consulting, academics or research. The promoters themselves and the investor nominee directors also have a similar mix of backgrounds.
The Board pays attention to periodic mission validation, ensuring compliance of the strategy, structure and systems to the mission, as well as monitoring the financial and social performance of the Companies. It lays down the broad policies of the company and indicates the operating boundaries within which the management team is free to take their decisions. But the Board has not stopped there and has also set up clear mechanisms for periodic review of the progress. At the same time the Board does not involve itself in any operational decisions. These have been delegated to the management team, with full accountability.