Adherence to high standards of conduct by banks has important implications for ensuring maintenance of economic and social order. Let me cite a recent instance, the expose by a media outfit on unethical practices at banks. Our enquiries have revealed that there were transactional and market conduct issues which need immediate redressal.
At the transactional level, instances  BIS central bankers’ speeches  3  of bank staff facilitating splitting of deposit transactions by customers for avoiding their reporting as CTRs/STRs to the investigative agencies were also noticed. If these are not unfair and unethical practices then what is? These transactions may be beneficial to individuals but, eventually, they manifest in the form of societal cost.