The document explores the concepts of values and ethics, defining them and highlighting their differences, with a focus on their application in business and banking. It lists common unethical acts and outlines the importance of maintaining ethical standards in banking to gain public trust and ensure customer protection. Ultimately, it emphasizes that values and ethics are essential for the integrity and functionality of the banking sector.

1. VALUE & ETHICS

2. CONTENTS
Definition of Value & Ethics
Difference between Value & Ethics
Types of Value & Ethics
Common Unethical Acts

3. Definition of Value
Theodore Sturgeon’s in his Book “More Than
Human” defined MORAL Values as Society’s code for
individual survival
 A value is a belief, a mission, or a philosophy that is
really meaningful to the organisation
It can be termed as the science of character of a
person expressed as right or wrong conduct or action
Values release direct energy, motivate people,
generate profits and promote non-stop expansion

4. Definition of Ethics
 The word Ethics is derived from Greek word
‘Ethicos’ meaning Character or Manners
 According to Theodore Sturgeon Ethics is an
individual’s code for society’s survival
 It is the science of character of a person
expressed as right or wrong conduct or action
 It is a set of moral principles prescribing code,
explains what is good & right or bad & wrong

5. Difference
Value Ethics
Society specific Individual specific
It’s principles are subjective It’s principles are objective
Science of ethics Science of correct attitude of a person
It’s rules are directed towards
appropriateness for the society
It tells the correct attitude of a person to
own self, others & God

6. Types
Moral
Value
Instrumental
Value
Terminal
Value
Descriptive Normative
Analytic
Value Ethics

7. Common Unethical Acts
a) Misrepresenting hours worked
b) Employees telling lies to supervisors
c) Management telling lies to employees,
customers, vendors or the public
d) Misuse of organizational assets
e) Falsifying records

8. Common Unethical Acts
f) Sexual harassment
g) Stealing/Theft
h) Accepting or giving bribes
i) Withholding necessary information from
employees, customers, vendors or public
j) Abusive or intimidating behavior
k) Drug or alcohol abuse

10. VALUE & ETHICS

11. CONTENTS
Business Ethics & its Need
Value and Ethics in Banking
Objective of Banking Ethics
Commitments in Banking Ethics

12. Business Ethics
Definition
 It comprises principles and standards
that guide behavior in the world of
business
 Business Ethics can be described as the
systematic study of moral (ethical)
matters pertaining to business, industry
or related activities, institutions, or
practices and beliefs. It is the systematic
handling of values in business and
industry

13. Business Ethics
It contains the following:
a) Avoid breaking the criminal law in one’s work
related activity
b) Avoid action that may result in civil suit
c) Avoid actions that are bad for the image of
business entity
d) Protect confidential information, never use it for
your own benefit
e) Treat your colleagues fairly and respectfully and
respect customer

14. Ethical Need in Business
It is necessary to earn money but not at the cost of ethics. Hence the need of
ethics is due to the following reasons:
a) LEGAL IMPERATIVE – Penalties attached to wrongdoing
b) SOCIETAL IMPERATIVE – Reputation
c) PRAGMATIC IMPERATIVE – Good for business, easier to attract business, joint
ventures, and direct foreign investment
d) CHANGE IMPERATIVE – Enables one to act through new choices where no
policies and procedures are in place
e) MULTINATIONAL IMPERATIVE – Business across borders
f) GLOBAL IMPERATIVE – Special interest groups and media

15. Value and Ethics in Banking
In today’s competitive scenario, every bank wants to
become the market leader, capture maximum market
share and have maximum customer base. As Banks
deal with money, Public & Govt. have more trust on
Banks. Hence, Value & Ethics play important role for
Banks:
a) Value & Ethics is a voluntary Code, which sets
minimum standards of practices to be followed
by banks while they are dealing with individual
customers
b) It provides protection to customers and explains
how banks are expected to deal with them for
their day-to-day operations

16. Universal Values for an Ethical
Banking Industry
a) Integrity, Trust & Transparency
b) Reliability, Accountability & Responsibility
c) Honesty & Truthfulness
d) Consistency & Fairness

17. Objectives of Banking Ethics
a) To promote good and fair banking practices by
setting minimum standards in dealing with
customers
b) To increase transparency so that customers can
have a better understanding of what they can
reasonably expect from Banks
c) To encourage market forces, through competition,
to achieve higher operating standards
d) To promote a fair and cordial relationship between
customers and their bank
e) To foster confidence in the banking system

18. Commitments in Banking Ethics
a) To act Fairly and Reasonably in all our dealings
b) To help customer to understand how our
financial Products and Services work
c) To help customers how to they can operate their
accounts in banks
d) To deal Quickly and Sympathetically with things
that go wrong
e) To treat all customer’s Personal Information as
Private and Confidential
f) To adopt and practice a Non - Discrimination
Policy

19. g) Providing minimum banking facilities of receipt
and payment of cash/ cheques at the bank’s
counter
h) Meeting the commitments and standards in this
Code, for the products and services we offer,
and the procedures and practices we follow
i) Making sure our products and services meet
relevant laws and regulations in letter and spirit
j) Ensuring that our dealings with customer rest on
ethical principles of integrity and transparency
k) Operating secure and reliable banking and
payment systems
Commitments in Banking Ethics

20. Conclusion
a) Banks run on public trust which, in turn, is a function of ethical principles and
moral values. The world is witness to numerous bank failures, small and large,
which could not withstand the rigor of public trust
b) Banks are back bone of any country’s economy. Banks directly control
economical condition and drive development of a country, so there is a need to
have strong banking system which is only possible with the practice of Value &
Ethics
c) Value and Ethics are not a religion. They are logical, sensible principles of good
conduct that we need for a peaceful society
Success will come and go but Honesty and Integrity will last forever