Which of the following is a feature of the 'Fintech' revolution in financial services?
A. The use of technology to deliver financial services in new ways, often by non-traditional providers
B. Only the use of paper-based processes
C. The complete replacement of all traditional banks overnight
D. Only the activities of central banks
Answer: Option A
Solution (By JKSSB Mock Tests)
Fintech refers to technological innovation in the design and delivery of financial services, encompassing payments, lending, insurance, wealth management and other activities often provided by new entrants.
Explanation:
Consumer surplus is the difference between the maximum amount consumers are willing to pay and the amount they actually pay, represented by the area under the demand curve and above the market price.
Explanation:
A carry trade involves borrowing funds in a currency with a low interest rate and investing them in a currency with a higher interest rate, thereby earning the interest differential while remaining exposed to exchange-rate risk.
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