Question

Banking professionals should play a role in advocating compliance with ethical standards for banks and other financial institutions. Do you agree or disagree? why?

Answer 1

Banking ethics is all about integrity and fairness to all stakeholders and taking decision-making accountability. Centered on the principles of trustworthiness, honesty, disclosure and accountability, the essence of banking is to transfer large quantities of money accurately and safety around economy. It is expected that high ethical standards will direct Banking industry operations. While adequate legislation has been developed to regulate banking operations in India but it is not adequate alone to ensure discipline in the sector

The Bank expects its Financial Professionals to behave honestly and ethically including the ethical treatment of real or potential conflicts of interest between personal and professional relationships. Moreover, the Bank expects its Financial Professionals to discharge their duties frankly, in good faith and with honesty, due consideration and diligence, exercising their best independent judgment at all times. In addition, financial professionals are strictly prohibited from taking any action, directly or indirectly, to coerce, deceive, mislead or fraudulently influence the internal or external auditors of the Bank in order to misrepresent the financial statements of the Bank

Financial professionals must report immediately to the Bank's General Counsel any activity they consider to be a breach of this Code, and participate completely with any internal or external review of potential violations. Failure to disclose any actions considered to be a breach of this Code is a violation of this Code. If a Financial Professional wishes to do so, he or she can notify the Chairperson of the Audit Committee directly or call the Bank's Whistleblower Hotline rather than, or notify the Bank's General Counsel in addition.

The Director of Human Resources is responsible for obtaining from each Financial Professional an annual certification that he or she has reviewed the latest edition of this Code and the Code of Conduct and Ethics for Employees, agrees to be bound by the terms of this Code and the Code of Conduct and Ethics for Employees, either in the previous year or from the date of employment of a new employee