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Reserve Bank of India

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Finkraft Interview Questions and Answers

Updated 5 Feb 2024

Q1. Do you think Fin Tech has a greater role to play in the financial sector?

Ans.

Yes, Fin Tech has a greater role to play in the financial sector.

  • Fin Tech has revolutionized the financial sector by introducing innovative solutions and improving efficiency.

  • It has made financial services more accessible and convenient for customers.

  • Fin Tech companies have disrupted traditional banking models by offering alternative lending platforms, digital payment solutions, and robo-advisory services.

  • The use of artificial intelligence and machine learning in Fin Tech has...read more

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Q2. Is is practicable for India to achieve 5 Trillion Dollar Economy ? if so, what measures need to be taken according to you

Ans.

Yes, India can achieve 5 Trillion Dollar Economy by focusing on infrastructure, technology, education, and ease of doing business.

  • Investment in infrastructure development such as roads, railways, airports, and ports

  • Promotion of technology and innovation to increase productivity and efficiency

  • Improvement in education and skill development to create a skilled workforce

  • Simplification of regulations and procedures to improve ease of doing business

  • Encouragement of entrepreneurship...read more

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Q3. What is central bank digital currency?

Ans.

Central bank digital currency (CBDC) is a digital form of a country's fiat currency issued and regulated by the central bank.

  • CBDC is a digital version of a country's currency that is issued and regulated by the central bank.

  • It is designed to function as a secure and efficient medium of exchange, just like physical cash.

  • CBDC can be used for both retail and wholesale transactions, enabling individuals and businesses to make digital payments directly to the central bank.

  • Unlike c...read more

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Q4. What is monetization of budget deficit?

Ans.

Monetization of budget deficit refers to the process of financing government spending by printing new money or borrowing from the central bank.

  • It involves creating new money to finance government spending

  • It can lead to inflation and devaluation of currency

  • It can also lead to increased government debt

  • Examples include quantitative easing and deficit financing

  • It is often used as a last resort when other financing options are not available

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Q5. Does Brexit going to help UK in future?

Ans.

Brexit's impact on UK's future is uncertain and depends on various factors.

  • Brexit may lead to new trade deals with non-EU countries

  • It may also result in loss of access to EU markets and talent

  • The impact on industries like finance and agriculture is unclear

  • Brexit may also affect the unity of the UK

  • Overall, the long-term effects of Brexit are difficult to predict

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Q6. What if green finance?

Ans.

Green finance refers to financial investments that support environmentally sustainable economic growth.

  • Green finance includes investments in renewable energy, energy efficiency, sustainable agriculture, and clean transportation.

  • It also involves the integration of environmental, social, and governance (ESG) factors into investment decision-making.

  • Green bonds, green loans, and green insurance are examples of financial products that support green finance.

  • Green finance is becomin...read more

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Q7. Flip side of digital economy

Ans.

The flip side of digital economy is the potential loss of jobs and the widening income inequality.

  • Digital economy may lead to automation and job displacement

  • It may also widen the income gap between those with digital skills and those without

  • Privacy and security concerns may arise with increased use of technology

  • Digital divide may deepen, leaving behind those who lack access to technology

  • E-waste and environmental impact of technology may increase

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