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      Question

      In the question below, few statements are given

      depicting an issue or a problem. You have to assume everything in the statements to be true even if they are at variance from commonly known facts, and on the basis of the information given in the statements, decide which of the suggested courses of action logically follow(s) for pursuing. XYZ Bank has observed that the number of new savings accounts opened in the last quarter has dropped by nearly 40%. An internal report shows that many potential customers find the bank’s account opening process lengthy and cumbersome. It also reveals that competing banks are offering fully digital account opening through mobile apps, while XYZ Bank still requires physical document submission and in-person verification. I. XYZ Bank should introduce a digital account opening facility to simplify the process for customers. II. XYZ Bank should increase the interest rate on savings accounts to attract more customers.
      A Only I follows Correct Answer Incorrect Answer
      B Only II follows Correct Answer Incorrect Answer
      C Either I or II follows Correct Answer Incorrect Answer
      D Neither I nor II follows Correct Answer Incorrect Answer

      Solution

      The main problem identified is that XYZ Bank’s account opening process is lengthy and inconvenient, especially compared to competitors offering digital options. Course of action I directly addresses this issue by suggesting a digital facility to simplify the process — this is logical and follows. Course of action II does not address the root cause (the cumbersome process); increasing the interest rate may attract some customers but will not solve the procedural problem.

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