India should adopt UK Bribery Act to tackle corruption: Deepak Parekh

AHMEDABAD: Amid a raging debate on how to tackle corruption, a major issue in election-bound India, HDFC Ltd Chairman Deepak Parekh today suggested that the country should adopt UK Bribery Act to tackle the menace.

"India should adopt the UK Bribery Act, that was introduced there two years ago," Parekh suggested, while delivering a talk at the Ahmedabad Management Association.

"UK introduced the UK Bribery Act in 2010 as per which it is a criminal offence both for the giver and taker of bribe, and both giver and taker go to jail," he said.

Creating a pitch to erase corruption, Parekh said, "If we (country) introduce this bill...if giver and taker are both punished...I think it will have a tremendous impact."

"...we have to erase corruption in our country...it is all pervasive in every sector.."

"Certain structural changes need to be made....our biggest failure has been that we have let ourselves to be immune to corruption," Parekh said.