ABSTRACT

The issue of ethics and economic efficiency in the provisioning and delivery of services becomes complex in the Indian context. Ethical issues in the financial services industry affect everyone, because even if you don’t work in the field, you’re a consumer of the services. Financial service industry encompasses banks, securities firms, insurance companies, mutual fund organizations, investment banks, pensions funds, mortgage lenders—any company doing business in the financial arena. Because of its vast size, the industry tends to garner lots of headlines, many of which tout its ethical lapses. This paper will try to look at the ethical aspects of the financial service industry towards stakeholders. An attempt of identifying few ethical issues relating Indian financial sector is made in this article.

Key words:  Ethical issues, Financial services, Moral behaviour, Legal behaviour, Scams