BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It means all their branches are technology driven with core banking solutions
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It suggests complete banking services
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It is an indication of customised banking services
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All of the above
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Detailed explanation-1: -Core Banking Solution (CBS) is the networking of bank branches, which allows customers to manage their accounts, and use various banking facilities from any part of the world. In simple terms, there is no need to visit your own branch to do banking transactions.
Detailed explanation-2: -Core banking can be defined as a back-end system that processes banking transactions across the various branches of a bank. The system essentially includes deposit, loan and credit processing.
Detailed explanation-3: -Core banking functions will include transaction accounts, loans, mortgages and payments. Banks make these services available across multiple channels like automated teller machines, Internet banking, mobile banking and branches.
Detailed explanation-4: -The core banking solution of the Reserve Bank of India (RBI) is the E-kuber. It enables commercial banks to access their current account with the RBI, at any time, from any place.