Abstract
Corruption is a limp in the walk of human progress. It is not a new phenomenon; it is as old as the history of mankind itself. The corruption made itself visible when the institution of the government was established. According to Glynn, et al. (1997), “…..no region, and hardly any country, has been immune from corruption”. Like a cancer, it strikes almost all parts of the society and destroys the functioning of vital organs, means cultural, political and economic structure of society Amundsen (1999). All this was proved by the major corruption scandals of France, Italy, Japan, Philippine, South Korea, Mexico, United States etc. These scandals bring the corruption problem on the agenda of major international institutions like International Monetary Fund, World Bank, World Trade Organisation, Transparency International and Organisation for Economic Cooperation and Development
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