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Corporate governance in India is full of loopholes and is toothless to prevent corrupt and unethical practises. Examine.

Topic: corporate governance.

7. Corporate governance in India is full of loopholes and is toothless to prevent corrupt and unethical practises. Examine. (250 words)

Difficulty level: Easy

Reference: Insights on India

Why the question:

The question is part of the static syllabus of General studies paper – 4 and part of ‘Abstract Thursdays’ in Mission-2023. Secure.

Key Demand of the question:

To write about shortcomings of corporate governance in India.

Directive word: 

Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.

Structure of the answer:

Introduction: 

Begin by defining corporate governance.

Body:

Write about the various limitations and shortcomings of corporate governance – frequent scams, lack of transparency, absences of accountability, corruption etc. Give recent examples like Yes bank, NSE scam.

Suggest steps to overcome the above.

Conclusion:

Conclude by writing a way forward.