Regarding the Stewardship Code: India does not have a National Stewardship Code, however, the capital markets regulator SEBI has mandated the adoption of the Stewardship Code for all Mutual Funds and Alternate Investment Funds from April 1, 2020. SBIFMPL has already adopted the Stewardship Code in Feb 2020.
For Proxy Voting decision making process, SBIFMPL has subscribed to services offered by two domestic unaffiliated third-party research firms to receive analyses and recommendations on the shareholder meetings of companies. These analyses are reviewed and studied before taking a final voting decision. However, the Proxy Voting Committee may not agree with the recommendations. In any situation, the decision of the Committee is regarded as final.