MS- 495 : ETHICS AND CORPORATE GOVERNANCE IN BANKS

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MS- 495: ETHICS AND CORPORATE GOVERNANCE IN BANKS

ASSIGNMENT

Course Code                                                       :                         MS-495

Course Title                                                                :       Ethics and Corporate Governance  in Banks                                                                  

Assignment Code                                            :                         495/TMA/SEM-II/2013

Coverage                                                             :                         All Blocks

Note:  Attempt all the questions and submit this assignment on or before 31st October, 2013 to   the coordinator of your study centre.

1.‘The values of individuals are different from work values.’ Briefly discuss this statement giving examples?

Answer : What Are Work Values

Throughout your life you acquired a set of values — beliefs and ideas that are important to you. For example you may believe that one should always be honest or that one must always be a loyal friend. You live your life according to this set of values. In order to have a happy, successful and fulfilling life, you must act upon your values, both in your personal life and at work. Taking your values into account when you choose a career could be the most important factor that determines whether you will or won't be satisfied with that aspect of your life.

Clarifying your work values, that subset of values

2.Distinguish between the Anglo American and German Model of Corporate Governance?

Answer : The Anglo- American Model of Corporate Governance

Essentially, in a nutshell, the Anglo-American Model of Corporate Governance is a liberal model of governance in a body corporate.

Adapted from and influenced by the systems of governance followed in the USA and the UK, this system of governance accords primary importance to shareholder interest and as a result, the role played by banking and financial institutions in the governance of an enterprise is drastically reduced.

3.Explain the composition of Board of Directors with reference to Corporate Governance in Indian Banking Sector.

Answer : Introduction

Banks are "special" as they not only accept and deploy large amount of uncollateralized public funds in fiduciary capacity, but they also leverage such funds through credit creation. The banks are also important for smooth functioning of the payment system. In view of the above, legal prescriptions for ownership and governance of banks laid down in Banking Regulation Act, 1949 have been supplemented by regulatory prescriptions issued by RBI from time to time. The existing legal framework and significant current practices in particular cover the following aspects:

4.How are Employees’ rights different from Consumers’ rights? Examine these differences in the context of a nationalised bank of your choice.

Answer :  Employment law covers the relationships between employers and their current, prospective and former employees. Both federal and state laws control various aspects of the employer-employee relationship, including each side’s rights and obligations. Because of the complexity of the employment relationship, this area of law involves issues as diverse as discrimination, recordkeeping, taxation and workplace safety. If your rights have been violated in the workplace, a lawyer familiar with employment law can help you protect your rights.

Basic rights as an employee

There are minimum rights and entitlements set out in law, which apply to ALL employees, whether it is written in your employment agreement or not.  Your employment agreement cannot trade off or provide for less than these minimums.

5.Discuss the Collapse of Global Trust Bank and identify the remedies suggested by RBI.

Answer : WHENEVER a private bank is in trouble, it is always the public sector banks that bail it out. This is something that many the private sector bankers also believe.

Even before the Global Trust Bank (GTB) catastrophe, Bank of Baroda and Punjab National Bank have bailed out Banaras State Bank and Nedungadi Bank. The number of forced amalgamation of weak private banks with prosperous public sector banks has created such confidence in public sector banks, which otherwise have been the target of slanderous attacks of the pioneers of neo-liberal reforms.

6.Write short notes on the following:

a)Cadbury Committee, 1992

Answer : The 'Cadbury Committee' was set up in May 1991 with a view to overcome the huge problems of scams and failures occurring in the corporate sector worldwide in the late 1980s and the early 1990s. It was formed by the Financial Reporting Council, the London Stock of Exchange and the accountancy profession, with the main aim of addressing the financial aspects of Corporate Governance.

b)Corporate Citizenship

Answer : Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. In some models, a firm's implementation of CSR goes

c)GRI

Answer :  The Global Reporting Initiative (GRI) is a leading organization in the sustainability field. GRI promotes the use of sustainability reporting as a way for organizations to become more sustainable and contribute to sustainable development.

Ø  A SUSTAINABLE GLOBAL ECONOMY ​

A sustainable global economy should combine long term profitability with ethical behavior, social justice, and environmental care.

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