ADHYATMA : A Journal of Management, Spirituality and Human Values [ISSN: 2581-7809 (online)]

Private Banks Selling Financial Products: An Ethical Outlook

Pankaj Sahu, Prof. Kumud Chandra Goswami — Tue, 16 May 2023 07:28:50 +0000

Ethics are the norms or standards that distinguish between what is right and what is wrong. Be it a business or any other profession ethics play a vital role. Considering the banking sector it has been observed that the private banks are much more aggressive in selling financial products than the public sector banks. With the advent of umbrella/universal banking, all the banks have increased their operations and started to sell third party products (TPP) under their banner. Third Party Products (TPP) are the financial products that the banks sell under their banner which are originally the products of another organization. Mis-selling of financial products is defined as the act of selling financial products without providing proper information or push selling any financial products which are not required by an individual. Mis-selling is a serious ethical concern but sadly is a common practice that has been going on in the market. It has been found that in spite of strict guidelines by the regulatory authorities’ banks, agents and private companies dealing with financial products make mis-selling. This is happening primarily due to the low salary offered to the sales officials with a lure to earn more and more revenue by way of commission. Considering all the issues this paper aims to study the customer’s perception on private banks selling third party products. The study uses primary as well as secondary data collected from 384 respondents using TPP.

Exploring the Link between Workplace Spirituality and Organizational Commitment

Karma Chopel Bhutia, Karma Detsen Ongmu Bhutia

This conceptual paper aims to explore the correlation between Workplace spirituality and Organizational commitment. It explores the theoretical underpinnings of both concepts and examines existing literature to comprehend how workplace spirituality may affect the commitment of employees to their organizations. The paper also highlights the significance of fostering a spiritual work environment to enhance organizational commitment. Several key authors are cited throughout the paper to give a thorough comprehension of the subject.

Management Thoughts: Thoughts on Business Management Practices with Reference to Assamese Proverbs

Dr. Parag Gogoi, Prof. Seema S. Singha

Management has become crucial in the way people manage the complexity of personal and professional life. Management practice is as old as human civilisation when people started living together in groups, for every human group requires management, and the history of human beings is full of organisational activities. Management is not singularly and exclusively about managing various aspects of life; it is also pivotal and central in a business entity or organisation. In this study, ‘the Assamese proverbs’ is the key components and these are very popular among the people of the Assamese community in Assam. It is oral communications that reflect the social relationship and the everyday experiences of the people of entire Assamese community. They constitute a large body of folk sayings or maxims in the Assamese language, which plays a vital role in imparting informal education to the literate and the illiterate. Common people use proverbs in their day-to-day life which plays an important role in solving a variety of problems. The data for the present study based on secondary data collect from relevant sources. The study is a humble and sincere effort of the researcher to find out the management thoughts contained in Assamese proverbs.