National

33% Indians feel offering cash to win business is justified

Mumbai: Over a third of respondents in India feel that offering cash payments to win or retain business is justified, says a survey by E&Y. “India has robust policies but the issue is compliance. In the current challenging market condition, the incentives for unethical conduct can be strong when personal remuneration is at stake and pressure to deliver growth is being felt directly,” E&Y India Leader for fraud investigation and dispute services Arpinder Singh said. According to Ernst & Young’s global fraud survey, a significant and influential group in India still regards unethical business practices as acceptable. “They are willing to make cash payments or offer personal gifts or entertainment to win or retain business,” Mr Singh said. 69 per cent of respondents also believe that bribery and corruption are widespread in the country, according to the survey.
 

This article appeared in The Milli Gazette print issue of 16-31 May 2013 on page no. 4

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