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Directions: Each of the following questions has a paragraph from which one sentence or part of sentence has been deleted. From the given options, choose the one that completes the paragraph in the most appropriate/coherent way.
Data is the new oil. This is an often-quoted adage in this digital age. Today, everything we do is tracked in one form or another. The new reality is that we use a multitude of free services in exchange for providing our data to companies who then attempt to use that data to help us make informed choices while making life decisions or while shopping for products or services. …………………………………………………………………….These data sets have been used behind the scenes to evaluate consumers’ eligibility for financial products such as loans. Particularly in the case of credit bureaux, as consumers realized that their loan approvals hinged on this data, it was sold to consumers in the form of credit scores and reports in order to review for accuracy.
The NBFC Account Aggregator is a body that will be permitted to collect information from various regulated financial entities.
Large data sets have long been built up by credit bureaus and financial institutions, but kept to themselves.
The RBI recently announced their intention to set up a Public Credit Registry (PCR).
The next logical question is how does this benefit you, the consumer?
None of the Above
Correct Answer is (b). 'Large data sets have long been built up by credit bureaus and financial institutions, but kept to themselves.' is the correct choice as the latter part of blank talks about 'data sets', hence the statement links with it well.
By: Abhishek kumar ProfileResourcesReport error
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