70 Per Cent Corporate Employees Say Note Ban Will Curb Corruption: Ernst & Young

As many as 70 per cent of respondents in a survey conducted Ernst & Young (EY) on the eve of the International Anti-Corruption Day, which is marked on 9 December, believe that the Narendra Modi government's demonetisation initiative can help curb corruption in the long term.

"Broadly, this (demonetisation) is expected to boost India's anti-money laundering efforts and curb the menace of unaccounted illicit wealth, which has been hoarded in the form of cash,” Moneycontrol quoted EY India Partner Yogen Vaidya as saying.

The report also says that the 40 per cent of respondents said they never attended an anti-bribery and anti-corruption training. Another aspect of the survey is that 15 per cent did not know that they may be held responsible for improper activities, which are done on behalf of their organisation.

Also, 94 percent of the respondents believe the private sector should be covered under the amendments proposed in the Prevention of Corruption Act.

With inputs from IANS