RBI DG Swaminathan: Ethics in Banking is a Core Safeguard, Not a Soft Theme

• RBI Deputy Governor Swaminathan J emphasized that ethics in banking is a core safeguard for the financial system, not a soft theme.
• He stated that strong ethical standards protect customers, employees, and institutions.
• Swaminathan highlighted that ethics prevents small compromises from escalating into large problems and is about handling grey areas and correcting mistakes fairly.
• He added that regulatory discipline is crucial for institutional reliability and long-term credibility, not just a box-ticking exercise.
• Transparency, both outward and inward, is vital, especially in digital interactions, ensuring clear information on terms, charges, and consent.