Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering Indiaandrsquo;s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that andldquo;cash is king but digital is divine,andrdquo; India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customersandrsquo; complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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Directions: Read the passage carefully and answer the questions given beside.

While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.

The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from ₹16.73 trillion in 2016 to over ₹33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.

During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.

Q. Which of the following statements best summarizes the passage's major point?

a)
Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.
b)
Physical bank branches won't be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.
c)
India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.
d)
None of the above

Correct answer is option 'C'. Can you explain this answer?

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Directions: Read the passage carefully and answer the questions given ...

The passage's principal conclusion is Option C. The chapter talks about how digitization is changing financial services and how traditional bank branches will always be important. It then offers proof to back up the claim that India still relies on cash notwithstanding these developments. This key conclusion is summed up in Option C, which claims that India continues to rely on cash despite digitalization and the value of physical bank branches. Options A and B are details covered in the passage, but they are not the major subject.

Hence, option C is the correct answer.

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements undermines the overall claim that cash transactions are still a preferred method of doing banking over digital form, as per the passage?

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best supports the notion that Indias economy is still cash-based?

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q. Which of the following is an assumption made by the claim that, despite the majority of deposit-oriented services having undergone a digital transformation, banks still provide branch-specific products, especially complicated ones?

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q. Which of the following is the logical corollary that the author would readily accept in the context of the passage?

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Direction: Read the following passage carefully and answer the questions given below:In view of the threat posed by private currencies such as cryptos, CBDCs (Central Bank Digital Currency) may seem to be the need of the hour to meet the threat of loss of monetary and later fiscal authority of the sovereign. There are no two opinions on the efficacy of the CBDCs (the Indian version being e-R) if juxtaposed only against the use of private currencies. In that case, the RBI’s e-R pilot is a welcome step. However, the story does not end there. One has to be essentially naive to ignore the larger implications of the overall political economy of digitalisation being attempted in a class-ridden capitalist economy in the neoliberal era. The way the debate is being put across by mainstream media, it appears that as bona fide citizens our choice is limited: digitalise or perish. In such a debate, the dominant voice, as usual, is of the government and of interests represented by finance capitalists. The increasing question and danger of surveillance by the government and curtailment of individual freedom are now expectedly occupying a back seat. However, the danger is real, even with CBDCs. Interestingly, while discussing the possibility of a CBDC in the United Kingdom in 2021, Sir Jon Cunliffe, the Bank of England’s Deputy Governor for Financial Stability, said that programming a digital currency for commercial or social purposes was something the British government needed to consider. He said: “You could think of giving your children pocket money, but programming the money so that it couldn’t be used for sweets.”There is another danger of data being collected and eventually used while one transacts on a digital platform, unlike in cash/currency transactions, where such possibility is eliminated ab initio. So, “programmable digital currency” is a real danger that will likely be a reality in the neoliberal era. Despite the advantages of a digital rupee, there is clear and present danger that its use would be closely monitored by the state, thereby leading to curtailment of individual freedom, huge abuse of data mining, and exponential growth of businesses based on digitalisation. In a country like India, with the existence and frequent reported abuses of the Telegraph Act, 1885, (notwithstanding the safeguards introduced following a Supreme Court judgment in 2007) to eavesdrop on citizens’ communications, the danger of surveillance by the state even in bona fide private exchange of digital currency is a cause for concern despite the assurances given by the RBI Governor.Q.According to the passage, what is a plausible motive for the sovereign government to introduce CBDCs?

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions: Read the passage carefully and answer the questions given beside.While digitalization has transformed most deposit-oriented services, banks continue to offer branch-specific products, particularly complex ones. Physical interaction remains crucial for individuals seeking big-ticket loans. According to a global digital banking survey conducted by the Deloitte Center for Financial Services, branches remain the most preferred channels worldwide for new product offerings. In India, 57 percent of customers rely on branches for home loans and rural customers heavily depend on branches for jewel loans. The availability of safety locker facilities within branches also attracts numerous customers, considering India’s significant market for gold and jewelry. Many bankers aver that customers still prefer to visit branches at least once a month. Although the RBI asserts that “cash is king but digital is divine,” India continues to be a cash-oriented economy.The evidence lies in the numbers, with the currency in circulation experiencing a substantial rise from 16.73 trillion in 2016 to over 33 trillion by 2023. With the increase in cash circulation for retail business units, maintaining a relationship at the branch level becomes inevitable for depositing significant amounts of cash at the end of the day. Frequent failures of cash deposit machines, particularly in public sector banks (PSBs), are another underlying reason for branches becoming cash hubs. However, technological advancements expected soon, such as India Stack and an open network for digital commerce, may change this trend. There are other reasons behind the need for branches. People across the globe, be it in developed or developing nations, prefer bank branches due to the trust factor. According to a global survey conducted by Accenture, nearly two-thirds of the 49,000 bank customers surveyed, irrespective of geographies and age groups, pointed out that the proximity of a physical bank branch authenticates the stability and availability of their bank.During a crisis, customers long for familiarity and certainty, and trusting intangible assets becomes highly challenging. For this class of customers, branches act as ambassadors and provide tangible proof of real relationship banking beyond a screen. Branches are also seen as important nodal points for resolving customers’ complaints and issues. As call centers and dispute resolution agencies, especially in the case of PSBs, are not too familiar to customers, branches become the primary interaction points for in-person dispute resolution.Q.Which of the following statements best summarizes the passages major point?a)Big-ticket loan applicants prefer face-to-face meetings with bank staff over completing the entire process online.b)Physical bank branches wont be much less necessary as a result of technological developments like India Stack and an open network for digital commerce.c)India continues to rely on cash despite the revolution of banking services brought about by digitalization and the significance of physical bank branches.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CLAT tests.

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