The concept of 'Data Trusts' or 'Data Commons' explores:
A. Only government ownership of all personal data
B. The complete free-for-all of unregulated data markets
C. Institutional arrangements in which data is stewarded collectively for the benefit of a defined community of stakeholders
D. Only private ownership of all data by platforms
Answer: Option C
Solution (By JKSSB Mock Tests)
Data trusts and data commons are emerging institutional models that seek to govern data as a shared resource, with trustees or collective bodies responsible for managing access and use in accordance with the interests of the data subjects or community.
Explanation:
Macroprudential policy uses regulatory and supervisory tools to mitigate systemic risk and to increase the resilience of the financial system as a whole, complementing microprudential supervision of individual institutions.
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