UPSC Prelims Practice Questions — StanChart CEO reassures staff over ‘lower value human capital’ comment
Q1. The 2026 remark about replacing 'lower-value human capital' with technology, alongside a plan to cut more than 15% of corporate-function roles by 2030, was made at a Hong Kong investor event by the Chief Executive of Standard Chartered. Who holds this position?
- A. Bill Winters
- B. Jamie Dimon
- C. C. S. Venkatakrishnan
- D. Noel Quinn
Q2. Consider the following statements comparing recent 2026 announcements on AI-linked banking job cuts:
1. Standard Chartered aims to cut more than 15% of its corporate-function roles by 2030.
2. The projection that AI could lead European banks to cut up to 20% of their jobs was made by the International Labour Organization.
3. Standard Chartered expects its AI-driven restructuring to raise income per employee by about 20% by 2028.
Which of the statements given above is/are correct?
- Standard Chartered aims to cut more than 15% of its corporate-function roles by 2030.
- The projection that AI could lead European banks to cut up to 20% of their jobs was made by the International Labour Organization.
- Standard Chartered expects its AI-driven restructuring to raise income per employee by about 20% by 2028.
- A. 1 and 2 only
- B. 1 and 3 only
- C. 2 and 3 only
- D. 1, 2 and 3
Q3. Under its 2026 restructuring, approximately how many support/corporate-function roles does Standard Chartered plan to make redundant by 2030?
- A. About 2,000
- B. About 5,000
- C. About 8,000
- D. About 15,000
Q4. Standard Chartered PLC, which trades under the ticker 'STAN', is primarily listed on which stock exchange?
- A. London Stock Exchange
- B. New York Stock Exchange
- C. Hong Kong Stock Exchange
- D. Singapore Exchange
Q5. According to the 2025 ILO–NASK Global Index of Occupational Exposure to Generative AI, roughly what share of global employment is potentially exposed to generative AI?
- A. About one in ten (10%)
- B. About one in four (25%)
- C. About one in three (34%)
- D. About one in two (50%)
Q6. The 2025 Global Index of Occupational Exposure to Generative AI was released by the International Labour Organization in collaboration with which national research institute?
- A. NASK (Poland)
- B. NASSCOM (India)
- C. Fraunhofer Institute (Germany)
- D. AI Safety Institute (United Kingdom)
Q7. The term 'human capital', at the centre of the Standard Chartered controversy, was coined in the early 1960s by economist Theodore W. Schultz. It refers to which one of the following?
- A. The stock of productive knowledge and skills possessed by workers
- B. The financial reserves a firm sets aside to pay employee wages
- C. The total number of employees on a company's payroll
- D. The physical machinery and equipment operated by human workers
Q8. Consider the following statements on concepts relevant to corporate governance and communication ethics:
1. The concept of 'human capital' was coined by Theodore W. Schultz in the early 1960s.
2. Stakeholder theory was introduced by R. Edward Freeman in 1984.
3. Stakeholder theory holds that managers should work solely to maximise shareholder profit.
Which of the statements given above is/are correct?
- The concept of 'human capital' was coined by Theodore W. Schultz in the early 1960s.
- Stakeholder theory was introduced by R. Edward Freeman in 1984.
- Stakeholder theory holds that managers should work solely to maximise shareholder profit.
- A. 1 and 2 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Q9. The 2026 projection that AI could lead European banks to cut up to 20% of their jobs was made by which institution?
- A. Morgan Stanley
- B. International Monetary Fund
- C. Bank for International Settlements
- D. McKinsey Global Institute
Q10. With reference to the 2026 discussion on AI-linked restructuring in the banking sector, consider the following statements:
1. Standard Chartered plans to cut more than 15% of its corporate-function roles by 2030.
2. Standard Chartered expects the AI-driven cuts to raise income per employee by about 20% by 2028.
3. Morgan Stanley projected that AI could cut up to 20% of European banks' jobs.
4. Standard Chartered's announced cuts are targeted primarily at its client-facing wealth-management staff.
Which of the statements given above is/are NOT correct?
- Standard Chartered plans to cut more than 15% of its corporate-function roles by 2030.
- Standard Chartered expects the AI-driven cuts to raise income per employee by about 20% by 2028.
- Morgan Stanley projected that AI could cut up to 20% of European banks' jobs.
- Standard Chartered's announced cuts are targeted primarily at its client-facing wealth-management staff.
- A. 1 and 2
- B. 3 only
- C. 2 and 4
- D. 4 only
Q11. Standard Chartered operates in India as a foreign bank branch. Which authority prudentially regulates and licenses it in India?
- A. Reserve Bank of India
- B. Securities and Exchange Board of India
- C. Insurance Regulatory and Development Authority of India
- D. Department of Financial Services, Ministry of Finance
Q12. With reference to India's policy perspective on AI and employment, consider the following statements:
1. NITI Aayog's 'Roadmap for Job Creation in the AI Economy' was developed with NASSCOM and BCG.
2. The roadmap estimates that AI could create about 4 million new roles in India over five years.
3. The Economic Survey 2024-25 cited an IMF study estimating that about 26% of India's employment is highly exposed to AI.
4. The NITI Aayog roadmap recommends launching a 'National Digital Health Mission' to build AI talent.
Which of the statements given above is/are NOT correct?
- NITI Aayog's 'Roadmap for Job Creation in the AI Economy' was developed with NASSCOM and BCG.
- The roadmap estimates that AI could create about 4 million new roles in India over five years.
- The Economic Survey 2024-25 cited an IMF study estimating that about 26% of India's employment is highly exposed to AI.
- The NITI Aayog roadmap recommends launching a 'National Digital Health Mission' to build AI talent.
- A. 2 and 4
- B. 4 only
- C. 1 and 3
- D. 3 only