The financial sector plays a crucial role in an economy. The rising importance of financial sector has been documented well in the literature. This sector is grappling with a number of challenges. Scandals and instances of corruption that are periodically reported around the world signal a continuous shifting of corporate principles and ethics. In the financial industry, there have been several developments. Consolidations in the form of mergers and acquisitions enable inorganic growth of these entities at a much faster pace. These entities are already more connected than ever thanks to technology. Greater economies of scale and increased economic profits should be the outcome of the strength and power these companies have assumed, but at the expense of smaller businesses who might not survive in the presence of these larger entities. All these raise concern for financial and economic stability. Concerns have also been raised about the global economy's declining ethical standards, especially in this industry. Although laws and standards are necessary for governing the sector, they are undoubtedly insufficient. As the dominant ideologies have fallen short on ethics and morality standards, these believers have resorted to other ideologies for answers to the dilemma. It is time an alternative needs to be explored. Gandhian ideology offers a remedy to these issues through its deeply ingrained ethics and morality.

Keywords: Financial Sector, Morality, Ethics, Gandhian Economics.