Compliance and continuous monitoring

26 April 2016

It has been well known fact that big organisations need to be on their heels all the time to ensure that they are compliant to the local and international regulations. Still fiasco like Mallya and Satyam happen. Corruption is the curse which has made the Indian Economy hollow. But there is no reason why we should not be hopeful for a better tomorrow. Today, we are in an age of growth, where Indian economy seems to be on track to be a global player and we seem to be moving at a good pace towards being a developed economy. But the goal is still far fetched.

To give an example : Uber has been stuck in debate in India (due to surge pricing issue) as well as internationally

( and will be paying upto 100 million USD to settle disputes. These issues and concerns are always there with every conglomerate but the key is to ensure that the compliance team is very strong and the monitoring is happening on a continuous basis.

Major role for this growth story will have to be played by regulators and big organisations. Regulators in India need to set good examples where they can put a sense of urgency and concern in the mind of big corporations, so that they keep the highest standards of quality with highest level of reporting and compliance in place.

Challenges will always be there, but clear vision, high values and global view can help our country grow further and with a visionary like Modiji at the helm, we can expect good times ahead for India.

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