The Delhi and NCR chapter of Vigilance Study Circle was launched by Chief Vigilance Commissioner Pradeep Kumar in New Delhi. The Circle aims at promoting public integrity by sharing knowledge, experiences and best practices for the fight against corruption.
The event was marked by a panel discussion on Ethics in Corporate Governance. Nandan Nilekani, Chairman, UIDAI delivered the keynote address while Sudhir Vasudeva, CMD-ONGC ltd and KR Kamath, CMD Punjab National Bank were the panelists.
Nilekani in his address underlined the need for accountability and differentiated between the concept of accountability in public and private sector companies. He also advocated use of information technology as an effective tool for good governance and said that serving speedy punishment to those flouting ethics and integrity would act as an effective deterrent. Nilekani also called for differentiating between bonafide and malafide actions.
Sudhir Vasudeva in his remarks said that the basic purpose of a business was to create wealth and underlined the need of doing so ethically. He also called on creating a balance between social responsibility and economic goals of an organisation.
RK Kamath highlighted the importance of disclosures and clear communication and said that practicing corporate governance would ensure safeguarding the interests of all stakeholders.
Doing business ethically makes good business sense, he added.
A lively discussion followed the panel discussion wherein the participants shared their experiences on various aspects of governance and ethics with the panelists.