Fernando's Business Ethics and Corporate Governance, 3rd Edition

138 Part 1  Business Ethics

(This case study is based on reports in the print and

electronic media. The case is meant for academic pur-

pose only. The writer has no intention to sully the rep-

utations of the corporate or the executives discussed.)

LIBERALIZATION USHERS IN NEW

GENERATION BANKS

Post-1991, the new economic policy of the Government

of India unleashed a process of liberalization and

deregulation. Like in all other sectors of the economy,

there were reforms in the  nancial sector too, and the

new policy allowed the creation of private sector banks

in the country after a lapse of almost three decades.

The Reserve Bank of India ...