Standard Chartered Bank extends medical coverage, benefits to employees’ LGBT+ partners

Representative Image (Image: Reuters)

Standard Chartered Bank has said it will extend medical coverage and domestic relocation benefits to LGBT+ partners of all employees in India. The move furthers its agenda of diversity and inclusion, the company said in a statement on May 21.

LGBT+ includes lesbian, gay, bisexual, transgender and other identities on the queer spectrum.

This means that employees can now declare LGBT+ partner as an eligible beneficiary under the bank’s medical reimbursement policy. The declared partner will also get covered under the domestic relocation policy.

“We are committed to an inclusive, safe and open environment for all LGBT+ colleagues in the Bank. Equity in employee benefits is one of the critical initiatives in ensuring that these workplace standards are met. Treating all colleagues, regardless of their sexual orientation, with dignity and respect is the right thing to do,” said Sachin Gupte, Head of HR, India, Standard Chartered Bank.

The move is part of successive steps taken by the bank to ensure an equal and inclusive workplace for LGBT+ employees over the past year, the statement added.

The bank has earlier also launched its Employee Resource Group (ERG) for LGBT+ and allies called GLAD (Gay, Lesbian, Bisexual, Transgender, Allies and Advocates). This included organising sensitisation sessions for employees with the help of activists and NGOs, and the making of toolkits to raise awareness among employees.