Friday, December 9th, 2022 11:41:38

Citibank Doles Out Gift To New Mothers, Offers Childcare Allowance

Updated: July 4, 2015 10:30 am

Citibank is offering its women employees in India a childcare allowance over and above their salaries worth up to Rs 1.32 lakh a year for spending on daycares services of their choice, in what is seen as an unprecedented employee benefit across India Inc and is aimed at making it easier for new mothers to pursue their careers uninterrupted. In what is a global first for the bank, Citibank will, starting this financial year, pay its women employees in India a fixed quarterly childcare allowance of Rs 33,000 for up to four years after their return from maternity leave, which they can use for financing daycare services of their choice. Employees can avail this facility for two children.

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