Is it ethical /PMC bank fraud/

If we see on the terms of business, before starting any kind of business one must know the actual meaning of two basic words that are (ethical ) and (unethical).

Ethical word simply means avoiding activities or organizations that do harm to people or the environment. On the other hand the word unethical means  going against social or professional expectations of what is  right, it's a word that's often used to describe bad behavior or immoral conduct.

Now in my upcoming words I am going to discuss one of the major fraud or you can also say it as an unethical practice by PMC bank .

PMC bank or you can also say Punjab Maharashtra cooperative bank is a Scheduled Commercial bank situated in 6 states of the country. This bank was established on February 13, 1984 as a single branch Bank. In a span of 35 years, the Bank has a wide network of 137 branches across six states

PMC bank was established on 13 February 1984 as single branch cooperative bank 
It operated nicely and within a time of 35 years, the Bank has a wide network of 137 branches across six states.

At the time of its establishment PMC was a cooperative bank but in 2000 it got the status of Schedule Commercial Bank by the the Reserve Bank of India. PMC is the youngest bank to achieve the Scheduled Bank status

so here was a little brief introduction to PMC bank now its time to discuss what actually PMC bank fraud was 

Details about the bank fraud:

The crux of this bank fraud is that the higher management of the PMC bank has given huge loan to the Housing Development and Infrastructure Ltd (HDIL) and its group entities.
If we talk about the total amount of the bank fraud then it was 4355 cr

The PMC bank allegedly favoured to the promoters of Housing Development and Infrastructure Ltd HDIL and allowed them to operate password protected masked accounts

It was found that 21049 bank accounts were open by bogus names to conceal 44 loan accounts , the bank software was also tampered to conceal these loan accounts.

This bank fraud case was busted by a bunch of women employees of the credit department of the PMC bank. These employees told to the RBI that they were aware of the ghost accounts. When this case came in the light then customers of the PMC bank rushed to the PMC bank to withdraw their hard earned money but they were refused to give their deposited money and withdrawal limit is set by the bank. ( now here the unethical practice of the bank starts where the bank sets a widrawal limit after the truth has been revealed to the public ) 

After the investigation was done the enforcement directorate ED sealed the assets of HDIL group and their Cheif Rakesh Wadhawan and his son Sarang Wadhawan was arrested by the Mumbai police .

This was what actually the PMC bank fraud was ,  from this I just wanted to show that what actually the unethical practices are .

This is just one example there are a lot more that we can find in the real world , not only bank frauds there are various companies like companies of fmcg , technological companies etc who are involved in different kinds of unethical practices just for the sake of earning profit .
These days there are a lot of public as well as private companies who have just forgotten the real meaning of word ethical and unethical , they are now doing anything just for the sake of earning profit . 

In today's time era I think we the common people have become their target and they can do what they like just to take money out of our pocket . so now it time for us to get aware about these unethical practices which practiced regularly by various companies. 

Now its time to end my blog You are requested to  share my blog to yours friends and family and please do not forget to comment down below that what are your views about the unethical marketing practices 

Thank you 

Sitanshu Arora

Unethical marketing /worst commercials 2019/

Ethical marketing sympathize with emotions, while unethical ones exploit them. This unethical marketing practice may include intentionally evoking rage or sadness to manipulate consumer decisions, using fear tactics, targeting disadvantaged people or tricking customers into buying a product or service

Unethical marketing practices may include things like :

1.Making promises you know you can't keep. Never make promises that you know you will not be able to keep

2.Not fully disclosing information

3.Misrepresenting your products and services

4.fear or applying unnecessary pressure. "Limited time offers" are notorious for the latter, which is fine if a deadline really exists and the tone doesn't sound threatening.

And a lot more....

Now I am going to share some latest examples of various companies involved in unethical marketing :

1. PEPSI

Pepsi is known for their high budget ads which usually feature famous faces such as Lionel Messi, Beyonce, Pink, Michael Jackson, and Beckham to name a few. This ad was no different and featured celebrity fashion icon, Kendall Jenner

shows Kendall joining a protest outside after removing her black wig and makeup. She then proceeds to give a can of Pepsi to a police officer during a stand-off who then smiles and the crowd cheers. Kendall Jenner has saved the day, all thanks to Pepsi.

Problem : During the time the advert was released, there were many protests and riots taking place in America over the BlackLivesMatter campaign. The ad took a lot of “inspiration” from these protests and fundamentally undermined the whole point of the protests. In addition to this, the ad also received a lot of criticism for how Pepsi was responsible for “saving the day”. Within 24 hours of releasing the ad, Pepsi faced a lot of criticism from online users over the ad and had to release an official statement while also pulling the ad.

2. DIGESTIVE BISCUITS

You might be thinking that what's wrong in the case of digestive biscuits advertising , there are various companies like Britannia,unibic,cremica,mecvities who all are manufacturing and selling their products in the market by the name on it as digestive which means very healthy .

Before buying them we all should know how healthy they are 

If we se in  the ingredients we find that it clearly states wheat flour ( refined) which means maids or white flour on the other hand to promote it product company advertise by saying it as digestive made up of whole wheat , not only this there are various more like oats biscuits but if we see in back label it says that it has only 10 percent oats and rest is again white flour .

3.NIKE 

Nike is undoubtedly one of the biggest companies when it comes to sportswear and sports brands. Known for their sports footwear, clothes and accessories, Nike regularly invests in multi-million-dollar ad campaigns featuring the likes of famous sports athletes. In 2019 Nike launched an advert featuring the American quarterback Colin Kaepernick who at the time was known for protesting over the American national anthem during football games. The ad was plastered on billboards all over America with the tag line “Believe in something. Even if it means sacrificing everything”. The line being a nod to Kaepernick’s previous actions of not standing for the national anthem in protest over the treatment of ethnic minorities.

The problem was that After Kaepernick refused to stand for the national anthem, many viewers became angry at him and viewed him as anti-American. The fact that Nike was using him in their ads made many people believe Nike was also anti-American. This sparked a lot of controversies online with many social media users destroying their Nike products while posting the hashtag #JustBurnIt.

4.GILLETTE

https://youtu.be/koPmuEyP3a0

Without a doubt, Gillette’s ad is the most controversial ad of 2019 so far. 

in case you haven’t seen it yet, watch the ad above

There were those who loved it and those who thought it was immortal.

Gillette has stated that the idea behind the campaign was to "challenge the stereotypes and expectations of what it means to be a man."And while many praised their message, others found it offensive and degrading.

The thing which you think is right but the society belives it to be wrong is what actually unethical means 

So I believe before taking any kind of marketing action the companies should first try to find out that  wether their advertisment they are going to publish is ethical according to society or not 

This brings me to end of by blog 

From all of  the above I just wanted to tell you all that what actually unethical marketing means and how various companies are unethically marketing their products.

At the end I just want to say that it not the company who needs to be aware but it us the consumers who need to wake up and get aware about all the unethical practices in market 

You are requested to  share my blog to yours friends and family and please do not forget to comment down below that what are your views about the unethical marketing

Thank you 

Sitanshu Arora

Ethical and unethical practices by various companies (INFOSYS CASE)

Ethical values provide the moral compass by which we live our lives make decisions (doing the right thing because it is right to do ) it improves our morale and reduces the risk that may arise from unethical practices .

Following are a few ethical business practices that should be followed to build an honest reputation and ensure smooth running of the organization :
1. Investors: Ensuring safety of their money and timely payment of interest.

2.Employees: Provision of fair opportunities in promotions and training, good working conditions, and timely payment of salaries.

3.Customer: Complete information of the service and product should be made available. Personal information of the customers should not be used for personal gain.

4.Competition: Unscrupulous tactics and methods should be avoided while handling competitors.

5.Government: Rules and regulations regarding taxes, duties, restrictive and monopolistic trade practices, and unlawful activities like corruption and bribing should be adhered to












On the other hand unethical practice  is an action that falls outside of what is considered morally right or proper for a person, a profession or an industry. Individuals can behave unethically, as can businesses, professionals and politicians.

Few examples of unethical practices are :

1. distortion of facts to mislead or confuse 
2. manipulating people emotionally by exploiting their vulnerabilities 
3.greed to amass excessive profit 
4.avoiding fines or penalty for unlawful acts 
5.harming the environment 
6.sexual discrimination
7.creation of false document to show excessive profit 
and many more .................

Now i am going to discuss about the unethical practice by the very famous company that is INFOSYS this is according to the latest news published in various newspapers 

here are few references :
www.thehindu.com
m.economictimes.com 

Unethical practices Infosys CEO:

For Infosys, India's second largest IT services company the woes causes by whistle blowers just dont seem to end.

In its latest missive , ethical employees a whistle blower group has allegedly
complained to the U.S. Securities and Exchange Commission (SEC) and the Infosys' board that CEO Salil Parekh was indulging in “unethical practices” to boost short-term revenue and profit.

The e-mail to the board and the SEC is dated September 20, 2019, while another e-mail dated October 3, 2019, had been sent to the U.S. Labour Department's Office of the Whistleblower Protection Program enclosing "documentary evidence" voice recordings on several allegations made in the earlier e-mail. "We have not sent to the company as our identity would be revealed' " the e-mail to the U.S. Labour Office said.


The complaint alleges that Mr. Parekh bypassed reviews and approvals for large deals. First reported by a financial newspaper, the complaint alleges that Mr. Parekh directed his key employees to make "assumptions" to show margins.

 

It also claims that the CFO was complicit in the wrongdoing. It alleged that several billion-dollar deals in the last few quarters had a nil margin and asked the company to get deal proposals, margins, undisclosed up-front commitments and revenue recognition checked by auditors.

The whistleblowers’ allegations talks about how the complainants were asked to not fully recognize visa costs in the quarter and were pressurised into not immediately recognising $50 million in reversals in a contract.

It alleged that Mr. Parekh as well as chief financial officer Nilanjan Roy were pressuring the finance team to show more profit in their treasury management by taking risks and making changes to policies.

Previously, in 2017 and 2018, a whistleblower had raised questions about corporate governance issues at the firm

After several developments, the then Infosys CEO Vishal Sikka had to step down from office.


Here is only one example which i have given but there is alot more to share there are various companies who are indulge in unethical practices we find them daily in our morning news papers i'll be sharing alot more in my upcoming blogs so please stay updated ,

you are requested to share yours views about the various ethical and unethical  practices that we find daily in our lives related to HR , finance , marketing and more...

please share my blog to yours friends and family and please do not forget to comment down below 

THANK YOU
Sitanshu Arora