Topic: corporate governance.
7. To tackle the rising number of banking frauds and strengthen corporate governance in banks, several changes can be implemented. These changes should focus on enhancing transparency, accountability, and oversight within the banking sector. (150 words)
Difficulty level: Tough
Reference: The Hindu
Why the question:
The question is part of the static syllabus of General studies paper – 4
Key Demand of the question:
To write about changes needed in the corporate governance of banks to prevent frauds.
Structure of the answer:
Introduction:
In the introduction, give context of rising bank frauds.
Body:
First, write about the reasons as to why these banking frauds occur.
Next, mention the changes needed in the corporate governance structure of banks to prevent these frequent scams and frauds.
Conclusion:
Conclude by summarising.
