BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Core
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Credit
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Continuous
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Complete
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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: -The term CORE stands for Centralized Online Real-time Environment, which implies that the customer can experience the bank as a single entity, regardless of their location.
Detailed explanation-3: -earlier banks had 3-4 digit number when they were not linked via servers and the internet. after cbs came all branches became online and account number changed from say 1234 to 001100001101234. so this long account number is your cbs number.