Main Article Content
Abstract
Business ethics is the organized analysis of ethical principles relating to business, industry, commerce, trade and other related activities, institutions, beliefs, and practices. There is definite interdependency between ethics and business ethics. In recent years banking sector has faced various events of frauds, internal oppression, greed, low ethical values, internal control, increasing NPA’s due to these events the ethical principles in banking sector has faced poor performance. This study focuses on whether unethical practices have led to bank frauds, has greed played a major role in rising frauds, NPA’s and economic slowdown, at the same time, study show the present problems in banking standards of ethics and frauds which negatively affects the financial institution. This paper is aimed to reflect when banks fail to meet the ethical standards, main frauds and problems in past two years of banking ethics result in social and economic drop and create irrelevant friction in the economy.