Business Studies · Law and Ethics
If a bank official sanctions a loan after receiving an illicit commission, it constitutes a violation of the Prevention of Corruption Act, 1988. In the context of Business Ethics, what does this legal consequence highlight?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1That all ethical breaches must necessarily lead to criminal prosecution.
- 2That Deontology is a flawed ethical framework for banking.
- 3That legality represents the minimum standard of ethical behaviour.✓
- 4That the ethical duty to the customer is always secondary to the bank's profit.
Correct answer
That legality represents the minimum standard of ethical behaviour.
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