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      Question

      What is

      CBS?
      A A cybersecurity framework protecting bank servers from external attacks and cyber threats Correct Answer Incorrect Answer
      B A regulatory reporting tool used by banking institutions exclusively for timely RBI compliance submissions Correct Answer Incorrect Answer
      C A cloud backup system that stores bank transaction data on remote servers so as to facilitate fault tolerance Correct Answer Incorrect Answer
      D A centralised software platform that enables customers to access their accounts and perform transactions Correct Answer Incorrect Answer
      E A customer relationship management system for tracking loan applications Correct Answer Incorrect Answer

      Solution

      CBS (Core Banking Solution) is the backbone of modern banking. It centralises all banking operations (accounts, deposits, loans, transactions) on a single platform, enabling anytime-anywhere banking. Popular CBS platforms used by Indian banks are Finacle (Infosys — used by SBI, Canara Bank, Central Bank of India), BaNCS (TCS — used by several PSU banks), Flexcube (Oracle — used by many private banks).  Key CBS features:  • Real-time transaction processing • Centralised customer database  • Branch-agnostic operations • Integration with RTGS/NEFT/UPI/ATM networks • Regulatory reporting Without CBS, customers could only transact at their home branch.

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