In the following passage, there are blanks each of which has been numbered. These numbers are printed below the passage and against each, five words/phrases are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
Mobile banking (M–banking) involves the use of a mobile phone or any other mobile device to _____(1)_____ financial transactions linked to a client’s account. M–banking is new in most countries and most mobile payment models even in developed countries till date operates on a _____(2)_____ scale. A mobile network offers a _____(3)_____ available technology platform onto which other services can be provided at low cost with effective results. For example, M–banking services which use _____(4)_____ such as SMS can be carried at a cost of less than one US cent per message. The low cost of using existing infrastructure makes such service more _____(5)_____ to use by customers with lower purchasing power and opens up access to services which did not reach them earlier due to _____(6)_____ cost of service delivery. Although M-banking is one aspect in the wider _____(7)_____ of e–banking, there are reasons to single it out for focus, especially because there are a lot more people with mobile phones than bank accounts in India.
M–banking could provide a _____(8)_____ solution to bring more 'unbanked’ people to the financial mainstream. Without traditional credit, individuals are _____(9)_____ to exploitation by abusive lenders offering very high interest rates on short-term loans. Also of considerable importance are public safety implications for the unbanked – they are often victims of crime because many operate on a cash-only basis and end up carrying significant amounts of cash on their _____(10)_____ or store cash in their homes.
Find out the appropriate word which fits into the 10th blank.
In the following passage, there are blanks each of which has been numbered. These numbers are printed below the passage and against each, five words/phrases are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
Mobile banking (M–banking) involves the use of a mobile phone or any other mobile device to _____(1)_____ financial transactions linked to a client’s account. M–banking is new in most countries and most mobile payment models even in developed countries till date operates on a _____(2)_____ scale. A mobile network offers a _____(3)_____ available technology platform onto which other services can be provided at low cost with effective results. For example, M–banking services which use _____(4)_____ such as SMS can be carried at a cost of less than one US cent per message. The low cost of using existing infrastructure makes such service more _____(5)_____ to use by customers with lower purchasing power and opens up access to services which did not reach them earlier due to _____(6)_____ cost of service delivery. Although M-banking is one aspect in the wider _____(7)_____ of e–banking, there are reasons to single it out for focus, especially because there are a lot more people with mobile phones than bank accounts in India.
M–banking could provide a _____(8)_____ solution to bring more 'unbanked’ people to the financial mainstream. Without traditional credit, individuals are _____(9)_____ to exploitation by abusive lenders offering very high interest rates on short-term loans. Also of considerable importance are public safety implications for the unbanked – they are often victims of crime because many operate on a cash-only basis and end up carrying significant amounts of cash on their _____(10)_____ or store cash in their homes.
Find out the appropriate word which fits into the 10th blank.
The correct option is A Person
`Person’ is the correct answer because the idiom `to carry something about/on your person’ means `to carry something with you, for example in your pocket’.'Purses' and 'self' are incorrect because `purses’ and `self ‘do not go with the article `on’ before the blank. You carry cash `in’ your purse not `on’ it. 'Sleeve' and 'relative' are logically incorrect in this context.
`Person’ is the correct answer because the idiom `to carry something about/on your person’ means `to carry something with you, for example in your pocket’.'Purses' and 'self' are incorrect because `purses’ and `self ‘do not go with the article `on’ before the blank. You carry cash `in’ your purse not `on’ it. 'Sleeve' and 'relative' are logically incorrect in this context.
