Business ethics in Banks
Business ethics is about managing values and conflict resolution. It refers to the moral principles, policies, and values that govern the way companies and individuals engage in business activity. It goes beyond legal requirements to establish a code of conduct that drives employee behavior at all levels and helps build trust between a business and…
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Ethical foundation and ethical theories explained
Ethics is defined as a moral philosophy or code of morals based on what is considered right and wrong by a whole society or a person. “Ethics” identifies correct human behaviour according to positive values, such as transparency, loyalty, consistency, suitability, fairness, and opportunity. The ethical foundation is the basis for ethical standards, a system…
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What is National Payments Corporation of India?
National Payments Corporation of India was registered under section 25 of companies’ act 1956 and became functional from April 2009 as an umbrella organization for all retail payments system in India. It was promoted by ten banks namely; State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, and Union Bank of India,…
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What is a smart card?
The appearance of a smart card is akin to a credit card in size and shape. It is a plastic card embedded with microprocessor chip or memory chip. The microprocessor embedded under a gold contact pad on one side of the card can be compared to minicomputer. When the chip is processed by a chip…
What is Cheque Truncation System?
The Cheque Truncation System (CTS) is an online Image-based Clearing System (ICS). In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch. The presenting bank captures the cheque images and Magnetic Ink Character Recognition (MICR) data from end-to-end precise scanners by using the Capture System. The electronic…
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