Can business behave better?

Hardly a week passes nowadays without a new corporate governance-related issue roiling the markets. The ripples created by IL&FS and ICICI Bank had hardly begun to die down when news broke of Jet Airways’ principal lender, State Bank of India, ordering a forensic audit of the troubled airline’s accounts for the past few years. Even the august Reserve Bank of India’s board of directors, which met last week under new Governor Shaktikanta Das after the sudden and tumultuous exit of Urjit Patel, reportedly felt that governance standards at India’s central bank, which also doubles up as the banking regulator, needed some improvement.

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