Question

The term ‘Core Banking Solutions’ is sometimes seen in the news. Which of the following statements best describes/describe this term?1. It is a networking of a bank’s branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.2. It is an effort to increase RBI’s control over commercial banks through computerization.3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.Select the correct answer using the code given below.(a) 1 only(b) 2 and 3 only(c) 1 and 3 only(d) 1, 2 and 3

Answer 1

Holla


Correct option is a). 1 only


#hōpelēss_rōmantīc

Answer 2

Core Banking Solution or CBS as it is widely used, is a networking of bank`s branches which enables  customers to operate their accounts from any branch of the bank on its network regardless of where they have open their accounts.As a result the account holder does not remains the customer of a particular branch but becomes the bank’s customer.  

The account holder of CBS branches can enjoy various banking facilities from any other CBS branches located anywhere in the world as all the CBS branches are interconnected. This reduces the chances of account holder to regularly visit their branch for a banking transactions.

Option 1 is correct.