free Online Test Cloze Test Questions and Answers Quiz 54
Description: Free Online Test questions and answers on Cloze Test with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 54
"I never see what has been done; I only see what remains to be done."
- Marie Curie
Directions(1 to 10):Mobile banking (M banking) involves the use of a
mobi le 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 to date
operate on a (2) scale. A mobile network offers a (3)
avai labl e technol ogy pl atform onto whi ch 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 services 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.