BUSINESS ETHICS
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Human Resources Management (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What is business ethics in the context of banking?
Business ethics refers to the application of ethical principles and moral standards to business activities, decisions, and relationships. In banking, it governs conduct toward customers, employees, regulators, and society.
What is the difference between ethics and compliance in banking?
Ethics is voluntary moral behavior; compliance is mandatory rule-following.
What does the term 'corporate governance' mean in banking?
Corporate governance is the system of rules, practices, and processes by which a bank is directed and controlled, ensuring accountability, fairness, and transparency toward all stakeholders.
What is the 'tone at the top' principle in organizational ethics?
Senior leadership's behavior sets ethical standards for the entire organization.
Which RBI document provides a framework for ethical conduct in Indian banks?
The RBI's 'Fair Practices Code' and guidelines on corporate governance, along with the Banking Codes and Standards Board of India (BCSBI) code, provide the framework for ethical conduct in Indian banks.
What is 'ethical relativism' and how does it challenge banking standards?
Belief that ethics vary by culture, undermining universal banking standards.
What is meant by 'conflict of interest' in banking ethics?
A conflict of interest arises when a bank employee's personal interests could improperly influence their professional judgment or actions, potentially harming the bank or its customers.
What is the significance of the 'fit and proper' criteria for bank directors?
Ensures directors have integrity, competence, and absence of criminal record.
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