Meaning of Work Ethics and the Workplace Ethics
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, a 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.…
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How Conflict of interest arises?
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…
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Employees’ Obligation to Bank and other duty compulsions
[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…
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Ethics at the Individual Level and golden rules
[This post elucidates Values, Norms, Beliefs, Morality, Conflict, Integrity, Golden Rule, Dilemmas, and Decision-Making] Ethics is a 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,…
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RBI asks Banks to link external benchmark for all floating rate loans from October 1, 2019
RBI has issued a circular, making it mandatory for banks to link all new floating rate retail loans like personal loan, housing loan, auto loans and floating rate loans to MSMEs to an external benchmark effective October 1, 2019. The circular dated September 4, 2019, permitted the banks to choose one of the several benchmarks…
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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