The Importance of religious values though has great impact on the management ethics, has rarely being understood by the Indian business scenarios of today. We find that all religions show a positive relationship with extrinsic work values. Furthermore, we find that religions show a positive relationship with intrinsic work values. We also find that those who report no religious affiliation also view work values positively. We suggest that these results are perhaps a result of the converging effects of globalization. Management researchers are also accurately tring to define and promote these concepts based upon logic and reason. A religious person follows his code of conduct because he believes that it is proper behaviour and reaction to the varying challenges and circumstances which arise during the course of life. Since a religious person does his good deed not necessarily for its own sake, but because he has been instructed to do so by God his act is non-moral. One has to understand the underlying principles mentioned in the religious scriptures and try to make an analysis with relation to the management ethics, so that one will be able to create a relationship between the two.