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SUBJECT- BANKING Corporate Governance is an integral part of the Management Control System (MCS) which directly reflects in maintaining the image and the reputation of the company and its strategy because of global competition. In today's fast-growing economies, the reputation of an organisation has much important as its market value. Added to the financial crisis, the organizations are facing governance issues which are creating reputational and other risks. To overcome these, the corporate sector is focusing on a new concept called "Corporate Governance". Business ethics, Corporate Governance and Corporate Social Responsibility have become not only an integral part of the present globalised business environment, but also have changed the business model of banks and they are also enforcing such issues. Banks play an important role in the economic development of a nation as an intermediary in the financial sector. Banks also act as the trustees of the funds of the depositors. Thus, for efficient functioning and control in banks, an effective Corporate Governance practices should be an integral part of bank management. Banks should have good Corporate Governance in force which should be much more than complying with legal and regulatory requirements. The objectives of corporate governance in the banks must cover broadly: 1. To protect and enhance shareholders value. II. To protect the interest of all other stakeholders consisting of customers, employees and society at large. III. To ensure transparency and integrity in communication and to make available full, accurate, clear information to all concerned whether public or the government or any other. IV. To ensure accountability of the employees for work performance and in giving customer services and to achieve excellence at all the levels of their work and services. The role of the Board of directors, Chairman and/or CEO and Committees of the board is not only important but crucial in governance matters. The Bank's Board of directors should meet regularly and to provide effective leadership and insight in business and functional areas. They also should monitor bank's performance of business. The Chairman and/or CEO have the responsibility for all aspects of executive management and is accountable to the Board for the ultimate performance of the bank and for implementation of the policies laid down by the Board. A senior executive is made responsible in respect of compliance issues. Board level committees are also formed, to assist the Board of directors in working and to function effectively. These committees provide effective professional support in the conduct of Board level business in key areas and also provide inputs for taking major decisions. A. Elaborate the role of the Board of directors, Chairman and/or CEO and Committees of the Board in governance matters. List some of the important committees of the Board constituted in banks for the purpose of compliance of governance. (6 Marks) B. State the sound corporate governance principles as outlined by the Basel Committee as have been approved by Reserve Bank of India (RBI) also.. SUBJECT- BANKING Corporate Governance is an integral part of the Management Control System (MCS) which directly reflects in maintaining the image and the reputation of the company and its strategy because of global competition. In today's fast-growing economies, the reputation of an organisation has much important as its market value. Added to the financial crisis, the organizations are facing governance issues which are creating reputational and other risks. To overcome these, the corporate sector is focusing on a new concept called "Corporate Governance". Business ethics, Corporate Governance and Corporate Social Responsibility have become not only an integral part of the present globalised business environment, but also have changed the business model of banks and they are also enforcing such issues. Banks play an important role in the economic development of a nation as an intermediary in the financial sector. Banks also act as the trustees of the funds of the depositors. Thus, for efficient functioning and control in banks, an effective Corporate Governance practices should be an integral part of bank management. Banks should have good Corporate Governance in force which should be much more than complying with legal and regulatory requirements. The objectives of corporate governance in the banks must cover broadly: 1. To protect and enhance shareholders value. II. To protect the interest of all other stakeholders consisting of customers, employees and society at large. III. To ensure transparency and integrity in communication and to make available full, accurate, clear information to all concerned whether public or the government or any other. IV. To ensure accountability of the employees for work performance and in giving customer services and to achieve excellence at all the levels of their work and services. The role of the Board of directors, Chairman and/or CEO and Committees of the board is not only important but crucial in governance matters. The Bank's Board of directors should meet regularly and to provide effective leadership and insight in business and functional areas. They also should monitor bank's performance of business. The Chairman and/or CEO have the responsibility for all aspects of executive management and is accountable to the Board for the ultimate performance of the bank and for implementation of the policies laid down by the Board. A senior executive is made responsible in respect of compliance issues. Board level committees are also formed, to assist the Board of directors in working and to function effectively. These committees provide effective professional support in the conduct of Board level business in key areas and also provide inputs for taking major decisions. A. Elaborate the role of the Board of directors, Chairman and/or CEO and Committees of the Board in governance matters. List some of the important committees of the Board constituted in banks for the purpose of compliance of governance. (6 Marks) B. State the sound corporate governance principles as outlined by the Basel Committee as have been approved by Reserve Bank of India (RBI) also