Election Commissioner of India Ashok Lavasa says banking sector needs to focus on ethics
Speaking at the 49th foundation day of National Institute of Banking Management (NIBM), Lavasa said the sector should look at sustainable and ethical approach in banking.pune Updated: Sep 25, 2018 16:51 IST
Ashok Lavasa, election commissioner of India on Monday stressed upon the need for ethics in the banking system, which is in focus amid scams and growing non-performing assets (NPA) in the country.
Speaking at the 49th foundation day of National Institute of Banking Management (NIBM), Lavasa said the sector should look at sustainable and ethical approach in banking.
“Today the banking sector in India has its share of problems. There is a need for institutes like NIBM to introduce courses on ethical banking. I would say we are not talking enough about ethics in the way we work,” said Lavasa. Referring to the growing NPAs that banks are dealing with, Lavasa said while NPAs will continue to happen, there is a need to go into causes of why it is happening. “While going into the causes, the diagnosis might point to the fact that there was compromise. Not all NPAs can be due to bad intentions. Even an aggressive promoter and liberal banker can be a cause,” said Lavasa.
First Published: Sep 25, 2018 16:49 IST