Banking Officer Exam Template With Answers
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29Bank of India Banking Officer Paper – 2017 (Practice Set)
English
Direction(1-10): Read the following Passage carefully and answer the questions that follow:
Everything we do leaves a digital footprint. Big data
every stage of the value chain, from crop growing
has emerged as a buzzword in recent years.
(like prescription application that boosts yield) to
Broadly, it means a large amount of information
that is generated as trails or by-products of online
and offline activities — what we purchase using
trade (like digital sale systems eliminating
credit cards, where we travel via GPS, what we
middlemen). This helps farmers to hedge against
‘like’ on Facebook or retweet on Twitter, and so on.
uncertain variables such as rainfall and soil fertility
Today, the Data as a Service (DaaS) movement is
by smoothing the transaction process. In the realm
gaining momentum, spurring one of the fastest
of financial services, net banking has significantly
growing industries in the world. A
shrunk costs and time, while also encouraging
somewhat nebulous term, DaaS refers to
financial inclusion.
the myriad functions that technology serves.
From Institutionalisation to Individualisation
Clearly, big data holds vast potential to favourably
The process of using data to augment standards of
impact the global socio-economic environment.
living involves a shift from the aggregate to the
But is it being used as a signalling device for
particular, i.e. a more personalised approach. Big
effective policy changes?
data, combined with Behavioural Science, has given
Technology as a Catalyst to Growth
rise to a discipline called Psychometrics, which uses
In the last decade, technology has spawned a new
people’s digital traces to determine various aspects
wave of economic development by creating new
of their lives. In 2012, Michal Kosinski, one the
avenues for employment, amplifying economies of
forerunners of the field, demonstrated that a
scale and reducing costs of production.
Facebook user's skin colour, gender, income group,
Consequently, several platforms have emerged to
ethnicity, sexual orientation, and religious
counter growth challenges. For instance, Brazil and
affiliation could be determined with 85+% accuracy
Dubai routinely face heavy road traffic. To solve
from a dataset of around 70 'likes'. As the number
this problem, Uber designed UberCopters and
of likes increases, the more nuances they disclose
UberChoppers as an alternative to roads. Networks
about a person, like the kind of car they drive, the
of aerial routes for quotidian air travel are now
magazines they read, and the chocolate bar they
being rolled out in other countries as well.
like best.
Agriculture is also being revolutionised by
Ultimately, it is these personality traits that
technology.
determine behaviour. Hence the application of
Several European countries utilise Cloud
psychometrics to communications is changing the
Computing and Telematics to assist farmers at
landscape of consumer retail, business, education,
and even politics across the globe. In his Concordia
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