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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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. 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 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer?.

Solutions for 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. 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 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice 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 Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England, what is one possibility related to a digital currency in the United Kingdom?a)Giving children pocket money with restrictions on spending.b)Eliminating the use of digital currency for all transactions.c)Encouraging the use of cryptocurrencies over traditional currency.d)Promoting unrestricted spending of digital currency for all purposes.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CLAT tests.