Question
Which ethical theory asserts that the rightness or
wrongness of actions depends on cultural norms and societal values?Solution
Explanation: Relativism is an ethical theory that asserts that the rightness or wrongness of actions is context-dependent and varies based on cultural norms and societal values. In other words, what is considered morally acceptable in one culture or society may not be the same in another. Relativism challenges the idea of universal moral principles and suggests that morality is relative to individual cultures and perspectives. This makes ethical judgments contingent on the cultural and social context in which they occur.
Consider the following statement about Urban Co-operative Banks (UCBs):
1. It refers to primary cooperative banks located in urban areas only.
Which committee recommended the introduction of the concept of "Priority Sector Lending" in India?
What is the primary function of the RBI?
Government of India has undertaken Switch Operation of Rs .________ Crore with RBI?
 India is a member of the International Monetary Fund since _____.
Where is the global headquarters of the Goldman Sachs investment banking firm?
AIIB has approved a USD 356.67 million loan for the expansion of the _______ metro rail system, taking the bank's financing for various projects in Indi...
Financial Action Task Force (on Money Laundering) headquartered in which city?
India recently introduced "SARTHI", a new AI-driven system. What is its primary purpose?
Which loan type typically requires collateral and is used for purchasing large assets?