Citibank India's Efforts towards Talent Retention and Attaining Gender Diversity

On June 5, 2015, Citibank in India announced a monetary child care allowance for its women employees. The global banking giant announced that the new child care allowance would be applicable to its women employees in India and would be effective from the financial year 2015. The allowance was seen as an unprecedented employee benefit across industries in India. According to the bank, the benefit was aimed at making it easier for new mothers to pursue their careers without interruption. In a move that was the first such anywhere in the world, the bank decided to pay its women employees in India a fixed quarterly child care allowance of Rs. 33,000/-, amounting to Rs. 132,000 per year, for up to four years after their return from maternity leave. Employees could use the sum to fix up day care services for their children. Employees could avail of the child care benefit for up to a maximum of two children...