ETHICAL

CHOICES IN
BUSINESS
‘ A CASE OF
ICICI BANK ’

DISHA GUPTA
SAROJ KUMAR KHADANGA
SATYABRATA NAYAK
BUSINESS ETHICS
Business ethics (also corporate ethics) is a form of
applied ethics or professional ethics that examines
ethical principles and moral or ethical problems that arise
in a business environment. It applies to all aspects of
business conduct and is relevant to the conduct of
individuals and entire organizations.
OBJECTIVES OF BUSINESS ETHICS

• Honest and transparent dealing with

customers.
• Protect clients and customers from being
exploited or cheated.
• Level playing field among all participants.
• Healthy competition for the benefit of all
customers.
INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF
INDIA
Type Public
Industry Financial services
Founded 5 January 1994; 28 years ago
Headquarters Vadodara, Gujarat, India
Number of locations 5,275 (2020)
Key people  Girish Chandra Chaturvedi
(Chairperson)
 Sandeep Bakhshi (MD &
CEO)
Number of 97,354 (2020)
employees
Subsidiaries ICICI Prudential
ICICI Lombard
ICICI Securities
ICICI Direct
Website www.icicibank.com
ICICI SERVICES
CSR CSR Activities Details

ACTIVITY Urban livelihood

Skill development undertaken through the ICICI Academy
for Skills
OF ICICI Projects for strengthening/developing value chain in locally
Rural livelihood relevant commodities/activities for sustainable livelihood of
FOR THE villagers

YEAR Activities in the areas of environment conservation and

ecology protection which includes rainwater harvesting,
Environmental projects
2022-23 watershed development, plantation, forest conservation,
promoting use of renewable energy, waste management

Activities for the benefit of communities including

Social projects
Rural development and related
activities
Social awareness
Disaster management & others
healthcare, sanitation, promoting sports, education,
restoration of heritage sites and other activities
Promoting financial inclusion and digitisation of activities in
rural areas
Creating public awareness around themes like
environmental sustainability, health, education, safety,
gender equality etc
For emergencies and need based financial support
 CODE OF CONDUCT OF ICICI

• Transparency and Auditability

• Use of Company Brand
• Leading by Example
• Appearance
• Personal Telephone Calls and E-mail
• Expense Policies– Violations
• Rumour / Unauthenticated news
 7; 23%

YES
NO

23; 77%
UNETHICAL CONDUCT OF PEOPLE INVOLVED
• Mrs. Chanda Kochhar, ICICI Bank CEO
• Mr. Deepak Kochhar, Nu power renewables
• Mr. Venugopal Dhoot, Videocon promoter
REASONS:

• Transparency
• Unethical Practice
• Audit
• Misuse of Power
Effect on company and employees /
public/stakeholders

• The stakeholders
• The employees
CONCLUSION:
The statement from the ICICI bank said, “The Enquiry Report, with
the scope period of April 1, 2009 to March 31, 2018, concluded,
primarily on account of ineffectively dealing with conflict of interest
and due disclosure or recusal requirements,
that Ms. Chanda Kochhar was in violation of the ICICI Bank Code of
Conduct, its framework for dealing with conflict of interest and
fiduciary duties, and in terms of applicable Indian laws, rules and
regulations.”
REFERENCES
• https://
www.britannica.com/topic/ethics-philosophy
• https://en.wikipedia.org/wiki/ICICI_Bank
• https://
www.icicibank.com/aboutus/corporate-social-res
ponsibility.page
• https://
www.icicibank.com/managed-assets/docs/person
al/general-links/code_of_business_conduct_ethic
s.pdf
• https://blog.ipleaders.in/icici-v-videocon-case/
Thank You!