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In addition to mergers, the government could consider other (1) . The loss of Rs.18,000 crore incurred by PSBs has implications for the national (2) . On the one hand, the government foregoes revenues through dividends and profits, while on the other it would need to provide resources through enhanced expenditure to bail out loss-making banks from a pool of resources (3) from a small subset of population — taxpayers. The government could consider setting standards for the banking industry — privatising some of the inefficient PSBs while (4) profit-making ones. This implies that the 60-year-old policy of social control needs to be reviewed. One of the objectives of social banking under which private sector banks were nationalised in 1969 and 1980 was to ensure banking (5) in rural areas and to avoid a nexus between industry and banking.
In the past two years, the Central government has been successful in (6) a bank account in every household under the Prime Minister’s Jan-Dhan Yojana. The advancement in technology is already making possible safe banking (7) through mobile phones. In a digital India, and with widespread availability of credit rating, bank accounts, Aadhaar information and mobile phones, technology can help in eliminating human intervention in sanctioning and extending credit to the borrower. Small banks and payment banks are expected to penetrate deep into rural India, and therefore the need for a brick-and-mortar commercial bank branch is (8).
Privatising loss-making PSBs will have a (9) effect on the staff and management of such banks. Also, privatising a few loss-making PSBs will ensure that market discipline forces them to rectify their strategy, and this will have a (10) effect on other PSBs. As the Planning Commission was a vestige of the socialist era, so is social banking. It is time to reconsider whether PSBs, all 27 of them, are really required to serve the purpose of social banking in our country and at what cost.
- 1) inclusions
2) alternatives
3) compulsions
4) constraints
5) obligationsAnswer – 2)
Explanation : alternatives - 1) exchequer
2) passing
3) damage
4) demise
5) disadvantageAnswer – 1)
Explanation : exchequer - 1) separated
2) dispersed
3) garnered
4) scattered
5) eminentAnswer – 3)
Explanation : garnered - 1) discordant
2) nasty
3) grating
4) pleasing
5) rewardingAnswer – 5)
Explanation : rewarding - 1) departure
2) egress
3) evacuation
4) penetration
5) perceptionAnswer – 4)
Explanation : penetration - 1) ensuring
2) assuming
3) relying
4) decline
5) pertainingAnswer – 1)
Explanation : ensuring - 1) denial
2) transaction
3) assumption
4) rejection
5) refusalAnswer – 2)
Explanation : transaction - 1) binding
2) rising
3) diminishing
4) fluctuating
5) improvingAnswer – 3)
Explanation : diminishing - 1) sarrounding
2) incentive
3) encouragement
4) catalyst
5) deterrentAnswer – 5)
Explanation : deterrent - 1) tidy
2) ripple
3) straighten
4) compose
5) alignAnswer – 2)
Explanation : ripple
