Do you think naming and shaming, a measure sometimes adopted by banks and tax enforcement agencies to force defaulters and tax evaders respectively to comply with rules, is unethical? Justify. (150 Words)
As a responsible citizen of country, it is our duty to comply with the banking rules and tax laws. Sometimes there is genuine reason for a person to fail to pay the loan with interest to bank. But plenty of examples are available where it is intentionally done by an individual or an organization to avoid paying loan of a bank or tax. This is executed through loopholes of various laws and muscle power of crony capitalism.
So the intention of avoiding tax or not paying loan is an unethical and dishonest practice. Apart from that, most of the banks are public institutions. When they suffer from bad loans, it adversely affect all the stakeholders of the bank. The tax department is also public authority which collects tax from public and organizations and finally contributes to the functioning of the economy . As public is effected badly because of the unethical practices of corrupt individuals, it is reasonable to release their names in the public domain by these authorities.
This will be shameful for these persons as well as it will work as a deterrent for others. Enough punishment should also follow this process rapidly to gain trust of the people in these institutions.