Work ethic is a set of values an employee uses in his/her job based on the ideals of discipline and hard work. Work ethic encompasses moral principles like integrity, sense of responsibility, inherent ability, teamwork and cooperation. This involves a person’s attitude, behavior, respect, communication, and interaction and how he/she gets along with others. Workplace…
A conflict of interest arises when a person chooses personal gain over his duties to the employer or exploits his position for personal gain in some way. In banks, as a general rule, people of top management or Managers or employees should avoid conducting bank’s business with a relative or any other person or any…
Fair value accounting is the measurement of assets and liabilities of business on the basis of 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…
[This post elucidates about Employees Obligation to Bank/ Third Parties, Abuse of Official Position and Sexual Harassment], Banking ethics is a committed set of ethical standards and rules that should be followed in the activities of financial institutions and employees of the banking sector. Every employee of the Bank shall conform to and abide by…
[This post elucidates Values, Norms, Beliefs, Morality, Conflict, Integrity, Golden Rule, Dilemmas, and Decision-Making] Ethics is set of moral principles that guide a person’s behaviour and arrive at moral standards that regulate right and wrong conduct. The ethical principles are expressive about good habits that one should acquire, the duties that one should follow, or…
Limited Companies do have ethical responsibility which is however not protected by limited liability of the Promoters and Directors from the consequences of their actions. The long term success or failure of a company’s reputation depends upon a company’s record and the perception of its ethics. The foundation of the ethics is none of the…
Ethics is defined as a moral philosophy or code of morals, based on what is considered right and wrong practiced by a whole society or a person. The arena of ethics encompasses standardizing, defending, and recommending concepts of right and wrong behavior. The ethical theories are usually divided into three topics. They are meta-ethics, normative…
On what could possibly be considered as a pilot run by cybercriminals, it’s important that our Banks learn from this incident and reflect on their preparedness and defense mechanism to successfully spot intrusions, intercept and prevent similar attacks in future. A well-orchestrated cyber attackUnderstanding details of the cosmos cyber hack. An International cybercrime syndicate successfully…
Debit cards are issued by banks by linking it to inddividual custmers like SB/Current account holders,(in case of properietory concerns of Current Account/Cash Credit account,card will be issued in the name of the proprietor). The debit cards are akin to credit cards; the only difference is that the debit card holders do not enjoy credit…
Banks are issuing credit cards to their customers as well as to general public. The bank on receipt of application from individuals for credit cards, process the same and decides about issuing the cards and fixing credit limit on the basis of the creditworthiness of the customers.The credit cards are issued in the form of…