Banking Ethics Changing Dynamics
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Ethics in Banking — Ethics in Banking.
One-liners from this chapter
Free sample — 8 of 78 rapid-fire Q&A cards.
Name three classical pillars of banking ethics.
Integrity, Confidentiality, and Prudence.
What is the core ethical issue when AI declines a loan?
Accountability — who bears responsibility for machine-made decisions affecting customers.
What is digital redlining in AI lending?
Using proxy features like postal-code to indirectly discriminate against protected groups.
Who chaired the RBI FREE-AI Committee and when was it submitted?
Dr. Pushpak Bhattacharyya (IIT Bombay); submitted August 2025.
List five ethical tests for AI banking models.
Fairness, Explainability, Robustness, Accountability, Transparency.
What is Purpose Limitation under DPDP?
Data collected for stated purpose cannot be reused without fresh consent.
Define Data Minimisation.
Collect only necessary data; do not hoard information 'just-in-case'.
What is the first ethical duty after a cyber-incident?
Immediate containment: isolate, preserve evidence, prevent further harm.
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