Published Paper Details:

With the start of financial sector reforms in India during 1990's, the process of globalization and liberalization had started. The concept of corporate governance came into existence all across the globe during that time. Corporate governance in banking is different from other forms of business, as it deals with the money of investors and public at large and important to the economy. Banking has its linkages with the real sector and provides a payments and settlement system in the financial system of the economy. Therefore, Reserve Bank and the government has been continuously trying to improve the state of governance in banking sector by introducing specific Acts and set of guidelines / instructions issued time to time. Corporate governance practices need to be constantly evaluated due to uncertain and complex business environment. Corporate governance norms have primarily focused on the higher responsibility, accountability, transparency, quality, tighter regulation for the board of directors and the increase in shareholders' contribution. The aim of this paper is to provide an insight into the existing corporate governance practices in the banks in India. The present paper analyses the major corporate governance initiatives and guidelines provided by the RBI and other authorities with the areas of concerns.