Essay On Ethics In Banking

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ETHICS IN A BANK A bank is sector which deals with financial transactions.It plays the role of lender,borrower and a money saving place. It creates credit by lending money to a borrower,therby creating a corresponding deposit on the banks balance sheet. Banks play an intermediary role for the common man by supplying funds and giving the privilege of repaying it in installments with a minimum interest. OBJECTIVE AND SCOPE The most basic motive behind the banking ethics is to apply to the procedures and transactions of the banks with each other and with their customers and shareholders, and as well as with other organizations is to ensure that the existing respect for the banking profession in the society is set on a permanent footing, to maintain…show more content…
Professional ethics helps in maintaining the relationship between the individual members of a profession and the rest of the society, while corporate ethics identifies a corporate behavior culture by introducing certain rules in dealing with the problems stemming from inside or outside the…show more content…
They should take all technical and legal measures required for ensuring transaction security in all service mediums, a requirement further highlighted by newly-developed services and changing service channels prompted by technological improvement and electronic banking. They should inform their customers about the measures they take, and the measures that should be taken by their
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