Any new product for the G2P market needs to consider the incentives and motivations of all parties involved in the current value chain. As banks, mobile network operators (MNOs), NGOs and for-profit firms build new services to seize the opportunity to reach the large unbanked population, they must take time to understand the needs of customers. Even within a country, there are distinct differences in customer needs in urban and rural areas, and across segments. This has the potential to unlock a large untapped market. This opportunity has attracted several new players ranging from MNOs and start-ups to companies from adjacent industries such as retail, each trying its own business model to succeed in this new world. The influx of so many players and services has created confusion for customers, lack of coordination among players and limited scale for a single company. History tells us that after the initial stage of confusion, the dust eventually settles down and a few winners emerge.
Night Class: English Quiz
Directions (Q. 1 -5) : Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.
Mobile technology is transforming the global banking and payment industry by providing added convenience to existing bank customers in developed markets, and by offering new services to the unbanked customers in emerging markets. While consumers and governments are keen to adopt mobile technology for government-to-person (G2P) payments, intermediaries are creating barriers as they end up losing a good source of income.
1. What does the author mean by ‘unbanked customer’?
1) Not having access to the services of a bank.
2) A person who buys goods or services from a financial institution.
3) A customer of a specified kind with whom one has to deal.
4) Both 2 and 3
5) Other than given options.
2. Which of the following is possibly the most appropriate title for the passage?
1) Progress on banking
2) Banking in the future
3) Mobile banking
4) Integration between e-commerce firms and banks
5) Instant banking
3. Which of the following is most SIMILAR in meaning of the word given in bold as used in the passage?
UNTAPPED
1) Final
2) Fresh
3) Concluding
4) Latest
5) Last
4. Which of the following is most OPPOSITE in meaning of the word given in bold as used in the passage?
INFLUX
1) Invasion
2) Enlargement
3) Advance
4) Incline
5) Ebb
5. Which of the following is/are true according to the passage?
1) With each passing day, banking is becoming narrower.
2) Smart users today have round-the-clock access to their bank accounts and carry their bank in their pockets.
3) Only limited customers can avail all services of bank.
4) All of the above
5) Other than given options
Directions (Q. 6 -10) :Which of the phrases given against the sentence should replace the word/phrase given in bold in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark ‘No correction required’ as the answer.
6. When a man knows he is to hung with a fortnight. it concentrates his mind wonderfully.
1) to be hanged in
2) to hang over
3) going to be
4) hang out in
5) No correction required
7. Supriya took a look at the economics and decided it was lunacy in forgo the revenue.
1) leniency to have
2) lunacy to forgo
3) sheer to forgo
4) helped to lunacy to
5) No correction required
8. We have to ponder the question when considering a college major or embarking on a career.
1) have had ponder
2) have pondered out
3) ponder to
4) are in
5) No correction required
9. Many people want to make a lot of money, but the benefits of having a high income is ambiguous.
1) was ambiguous
2) were ambiguous
3) are ambiguous
4) in ambiguous
5) No correction required
10. Some people are willing to make lifestyle changes because the intrinsic awards of following a passion or making a difference are more important than a high salary in an unenjoyable career.
1) rewards of all
2) on following
3) award for
4) rewards of following
5) No correction required
Answers:
1. 1
2. 3
3. 2
4. 5
5. 5
6. 1
7. 2
8. 5
9. 3
10. 4
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