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RBI has asked banks to link SWIFT to core banking by:

Question

RBI has asked banks to link SWIFT to core banking by:

A 31st March Correct Answer Incorrect Answer

B 30th April Correct Answer Incorrect Answer

C 1st May Correct Answer Incorrect Answer

D 30th June Correct Answer Incorrect Answer

E 1st August Correct Answer Incorrect Answer

Solution

Ans- B, Banks will have to integrate SWIFT (Society for Worldwide Interbank Financial Telecommunication) with its core banking solutions (CBS) by April 30, as instructed by RBI. This is to tighten internal control in banks following Rs 11,400 crore fraud in PNB.

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