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    Question

    Which of the following statements best describes/describe ‘Core Banking Solutions’?

    1. It is the networking of a bank’s branches which enable 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 Correct Answer Incorrect Answer
    B 2 and 3 only Correct Answer Incorrect Answer
    C 1 and 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer
    E 2 only Correct Answer Incorrect Answer

    Solution

    ‘Core Banking Solutions (CBS)’ is the process of networking bank branches via computer networks due to which the customers can operate their accounts in any branch of the bank. The data and transaction systems across branches are linked to one another to create a central system.

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