The Internet and the World Wide Web have had a significant impact on the banking industry, shifting banking towards a more digital model. The World Wide Web (WWW) is a system of interconnected web pages that allow users to access information over the Internet. It is made up of public web pages that are linked…
Core Banking Solution (CBS) is the foundation of computerization in banking which is a software system that banks use to manage their primary operations. It’s a centralized system that allows customers to access their accounts and banking services from any branch of the bank, regardless of where they opened their account. Digital transformation has fundamentally…
Fair value accounting is the measurement of assets and liabilities of a business based on the estimation of current market values. It means the assets can be sold or a liability settled in an orderly transaction to a third party under current market conditions. Therefore this method of accounting is also known as ‘mark-to-market accounting…
Ethics of Information Security has both a legal and ethical concept. The ethics of information systems, also known as information ethics or cyberethics, is a branch of ethics that examines the ethical implications of information. It considers the moral aspects of information as a resource, product, or target. On the other hand, IS security or…
Abuse of official positions and sexual harassment are both types of misconduct and abusive conduct. Abuse of an official position is when an official uses his/her powers and privileges for personal gain or to harm others, instead of by the law. A public servant is said to commit the offence of criminal misconduct in the…
Ethics and technology are dynamic and ever-changing, and the relationship between the two is complex. Technology ethics is the study of the moral implications and considerations of technology, from its development to its use. It involves analyzing the ethical dilemmas that arise from the application of technology in various fields. Therefore, ethics is the dynamic,…
Globally Banking ethics rely on rules and standards that govern the conduct of a bank and its employees, and the impact of the bank’s actions on society and the environment. Banks are running on strong foundations of following four ethical principles which help them to deal with ethical issues. Principles of Trust: The Principles of…
The word “ethics” is derived from the Greek word ethos (character), and the Latin word mores (customs). In the legal context, ethics defines how individuals choose to interact with one another. According to Aristotle Ethics is the study of character, habits, and virtues that can be acquired through practice that enables us to lead a…
Phishing is an e-mail-borne fraudulent attempt to obtain confidential information from the recipient such as usernames, passwords, and credit card details by disguising oneself as a reliable entity or downloading malware by clicking on a hyperlink in the message. Scammers impersonate legitimate organisations (banks, government agencies) through emails, SMS, or phone calls, contact people, and…
The Gopalakrishnan committee is a committee of experts on the concept of non-personal data (NPD) constituted by the Ministry of Electronics & Information Technology (MeitY). The stated goals for the committee were (i). To study various issues relating to non-personal data (NPD). (ii). to make specific suggestions for consideration of the Central Government on the…