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    Question

    Which of the following statements best describes/

    describe the term ā€˜Core Banking Solutionsā€™?Ā  1. It is a networking of a bankā€™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 RBIā€™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 Solution (CBS) is networking of branches, which enables Customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Branch. He becomes the Bankā€™s Customer. Thus CBS is a step towards enhancing customer convenience through Anywhere and Anytime Banking.Ā 

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