- 05/16/2019 at 4:29 pm #870989EduGorillaKeymasterSelect Question Language :
While announcing Capital injection package for PSBs, the government has described each of the banks as “an article of faith”. Its assertion that no public sector bank will fail and that depositors’ money will remain safe should allay customers’ worry about the safety of their savings under the proposed Financial Resolution and Deposit Insurance legislation. Rating agencies have given the move the thumbs up, but remain unimpressed about governance reforms packaged with it.
Why is the term “article of faith” used in the passage?
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To describe banks to instil confidence in its customers
To describe the pre-eminent position of banks in society
To describe the benefits accrued through Financial Resolution and Deposit Insurance
To allay fears over the shortcomings of governance reforms for banks.
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