Vice President Venkaiah Naidu Suggests all Corporates to Consciously Encourage Whistle-Blowing Mechanisms

Vice President M. Venkaiah Naidu today suggested all corporates consciously encourage whistle-blowing mechanisms and provide adequate safeguards for the protection of whistleblowers. Delivering the Convocation Address at the Institute of Company Secretaries of India (ICSI), Mr. Naidu stressed that it was important to ensure transparency and accountability in all matters of corporate governance to enhance the confidence of all the stakeholders, including the shareholders.

 

Stressing the need to protect public money, Mr. Naidu said that the system has to be foolproof to reduce the scope for any irregularity. Highlighting that the actions of a few have brought a bad name to Indian business, the Vice President urged the young Company Secretaries to ensure ethics and accountability in corporate governance through their guidance and handholding. 

 

Mr. Naidu expressed the hope that the economy would rebound in the coming months and urged India Inc to take the lead in making it robust.

 

Stating that India



has fared reasonably better than many other nations, including the developed ones, in the fight against the Novel Coronavirus and in taking steps to revive the economy, he referred to the recent remarks of IMF Chief, Ms. Kristalina Georgieva, who had said that India took very decisive steps to deal with the pandemic and its economic consequences.

 

The Vice President called for concerted efforts by all the stakeholders in making the economy robust again and said that institutions like ICSI would be playing a key role in putting the economy back on rails with a focus on good corporate governance.

 

Observing that professionals like Company Secretaries will be playing a key role in reviving the economy as India moves ahead in its journey of becoming Atmanirbhar in various sectors, the Vice President urged them to always remain committed to upholding high moral values and ethics.

 

The Vice President stressed that the Centre, States, and local bodies, all should work as Team India for the development of the nation.