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Ethical Challenges in the Financial Sector-II
Arindam Banerrji
THE METAMORPHOSIS OF FINANCIAL INSTITUTIONS
Looking at financial services as a sector and why ethical standards are important in this sector in particular, it comes to two or three fundamental things that are shaping things for us in India. The first is their changing portfolio. The traditional function of a bank was to take a deposit and give a loan, but now, it is increasingly becoming a less important function of any financial institution's portfolio. Financial institutions are making money on risk arbitrage and on information arbitrage. They live on hugely leveraged balance sheets, much higher standards than corporate institutions are used to and, therefore, the financial ...
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