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BUSINESS OF THE STATE BANK Section-32. State Bank to act as agent of the Reserve Bank -  (1) The State Bank shall, if so required by the Reserve Bank, act as agent of the Reserve Bank at all places in India where it has a branch 2[or where there is a branch of a subsidiary bank], and where there is no branch of the banking department of the Reserve Bank, for- (a) paying, receiving, collecting and remitting money, bullion and securities on behalf of any Government in India; and (b) undertaking and transacting any other business which the Reserve Bank may from time to time entrust to it. (2) The terms and conditions on which any such agency business shall be carried on by the State Bank on behalf of the Reserve Bank shall be such as may be agreed upon. (3) If no agreement can be reached on any matter referred to in sub-section (2) or if a dispute arises between the State Bank and the Reserve Bank as to the interpretation of any agreement between them, the matter shall be referre...

  The first Companies Act after independence was passed in 1956, which governed business entities in the country. The 1956 Act was based on the recommendations of the Bhabha Committee . This Act was amended multiple times, and in 2013, major changes were introduced. By Section 135 of the 2013 Act, India became the first country to make corporate social responsibility (CSR) spending mandatory by law. The main objectives of Company law are: To protect the interest of shareholders. To safeguard the interest of creditors. To help the development of companies in India on healthy lines. To help the attainment of ultimate ends of the social and economic policy of the government. To equip the government with necessary powers to intervene directly into affairs of a company in the public interest. Special features of the Companies Act are: It provides more stringent provisions relating to the company promoters and company management. It provides elaborate provisions relating to the form an...

1.Lust Lust is a psychological force producing intense desire for an object, or circumstance fulfilling the emotion while already having a significant other or amount of the desired object. Lust can take any form such as the lust for sexuality , love, money, or power. It can take such mundane forms as the lust for food as distinct from the need for food. Religions tend to draw a distinction between passion and lust by further categorizing lust as an immoral desire and passion as morally accepted. Lust is defined as immoral because its object or action of affection is improperly ordered according to natural law and/or the appetite for the particular object (e.g. sexual desire) is governing the person's intellect and will rather than the intellect and will governing the appetite for that object. In Hinduism, in the Bhagavad Gita , Lord Krishna , an Avatar of Vishnu , declared in chapter 16, verse 21 that lust is one of the gates to Naraka or hell. In Sikhism , lust is counted ...

INDIAN SCENARIO Much has been written about the benefits of doing business in India — low input costs, easy access to labor and a massive consumer base. Less has been said about the ability of companies in India to thrive by bending rules, greasing palms and broadening ethical boundaries. At a time when the issue of corruption threatens the stability of the Indian government and scandals unearthed in sectors from sports to telecommunications total tens of billions of dollars, it is becoming increasingly critical for multinational managers to ask whether business success in India comes at an ethical cost. India’s lax ethical standards, coupled with a rigid bureaucracy and weak enforcement mechanisms, have certainly hurt the country in many ways. The causes of this fiscal pain can be seen at the government, corporate and individual levels. As Ratan Tata, chairman of the Tata Group, observed, “If you choose not to participate in corruption, you leave behind a fair amount of business.” Sca...

 Transactional Ethics : Man is a social animal. He has to react with others through different transactions. Business transactions are the interaction between business and their customer. The practice of ethics in all these transactions is called transactional ethics. Eg. We need vegetables & fruits likewise the vendor needs customers like us for survival and we both are dependent on each other. Equality Honesty & Reciprocity is indicated as the domain of transactional ethics.    Participatory Ethics : Guided by the common good, all the participants follow some ethical practices. Participatory ethics is an integral part of business ethics; these are the actions some of which are guided by common interest and some shared interest by all participants involved in the business.  It is the ethics of civil society. By participating on a regular basis in common projects on behalf of the general welfare, a corporation demonstrates that it can take its corporate ...

  Importance / Significance: Stop business malpractices: Some unscrupulous businessmen do business malpractices by indulging in unfair trade practices like black-marketing, artificial high pricing, adulteration, cheating in weights and measures, selling of counterfeit (duplicate) and harmful products, illegal hoarding, etc. These business malpractices are harmful to consumers and the safety of society. Business ethics help to stop these malpractices and safeguard society. It creates a healthy business environment for everyone. Improve customers' confidence: Business ethics are needed to improve the customers' confidence about the quality, utility, reliability, quantity, price, etc. of the products. The customers have more trust and confidence in the businessmen who follow ethical business rules or principles. They feel safe that such businessmen will not cheat them. Ethics binds businessmen to maintain trust by offering quality products and services to customers. Survival of ...