General Knowledge · General Awareness
The rapid proliferation of digital banking channels and the use of big data analytics have introduced complex ethical challenges. Specifically, using customer behavioral data to determine creditworthiness or cross-sell products has sparked debate. Which statement most accurately reflects the current dynamic in banking ethics regarding tech and data privacy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1There are no ethical concerns in digital banking as long as minimum technical security and firewall standards are maintained.
- 2Banking ethics suggest technology should maximize shareholder value at any cost, including deceptive dark patterns in mobile apps.
- 3Banks must prioritize data minimization and informed consent, ensuring algorithms do not lead to discriminatory lending practices or exploitation.✓
- 4It is ethically acceptable for banks to sell customer data to third-party marketing firms without consent if revenues fund free rural banking.
Correct answer
Banks must prioritize data minimization and informed consent, ensuring algorithms do not lead to discriminatory lending practices or exploitation.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for General Knowledge?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice General Awareness MCQs →Want more practice questions on General Awareness?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in General Knowledge · General Awareness