{"id":91362,"date":"2025-06-01T10:54:13","date_gmt":"2025-06-01T10:54:13","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=91362"},"modified":"2025-06-01T10:54:13","modified_gmt":"2025-06-01T10:54:13","slug":"the-term-core-banking-solutions-is-sometimes-seen-in-the-news-which","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-term-core-banking-solutions-is-sometimes-seen-in-the-news-which\/","title":{"rendered":"The term &#8216;Core Banking Solutions&#8217; is sometimes seen in the news. Which"},"content":{"rendered":"<p>The term &#8216;Core Banking Solutions&#8217; is sometimes seen in the news. Which of the following statements best describes\/ describe this term?<\/p>\n<ul>\n<li>1. It is a networking of a bank&#8217;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.<\/li>\n<li>2. It is an effort to increase RBI&#8217;s control over commercial banks through computerisation.<\/li>\n<li>3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.<\/li>\n<\/ul>\n<p>Select the correct answer using the code given below.<\/p>\n<p>[amp_mcq option1=&#8221;1 only&#8221; option2=&#8221;2 and 3 only&#8221; option3=&#8221;1 and 3 only&#8221; option4=&#8221;1, 2 and 3&#8243; correct=&#8221;option1&#8243;]<\/p>\n<div class=\"psc-box-pyq-exam-year-detail\">\n<div class=\"pyq-exam\">\n<div class=\"psc-heading\">This question was previously asked in<\/div>\n<div class=\"psc-title line-ellipsis\">UPSC IAS &#8211; 2016<\/div>\n<\/div>\n<div class=\"pyq-exam-psc-buttons\"><a href=\"\/pyq\/pyq-upsc-ias-2016.pdf\" target=\"_blank\" class=\"psc-pdf-button\" rel=\"noopener\">Download PDF<\/a><a href=\"\/pyq-upsc-ias-2016\" target=\"_blank\" class=\"psc-attempt-button\" rel=\"noopener\">Attempt Online<\/a><\/div>\n<\/div>\n<section id=\"pyq-correct-answer\">\nStatement 1 best describes the term &#8216;Core Banking Solutions&#8217; (CBS).<br \/>\n<\/section>\n<section id=\"pyq-key-points\">\n&#8211; Core Banking Solutions (CBS) are a centralized system implemented by banks that allows all branches to access and process customer data and transactions in real-time from a central database.<br \/>\n&#8211; This enables customers to operate their accounts from any branch of the bank that is on the CBS network, regardless of where the account was originally opened (Statement 1). Services like cash withdrawal\/deposit, fund transfers, account balance checks, etc., become available across the network.<br \/>\n<\/section>\n<section id=\"pyq-additional-information\">\n&#8211; CBS is a technology platform that modernizes banking operations, improves efficiency, customer service, and data management. It facilitates activities across various departments of a bank, including deposit accounts, loan management, ledger maintenance, and customer relationship management.<br \/>\n&#8211; While computerization inherent in CBS provides banks with better data and operations management that *can* be used for regulatory compliance, its main purpose is not to increase RBI&#8217;s control (Statement 2 is incorrect).<br \/>\n&#8211; Statement 3 describes a banking merger or resolution process related to non-performing assets (NPAs), which is unrelated to the technical term CBS (Statement 3 is incorrect).<br \/>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The term &#8216;Core Banking Solutions&#8217; is sometimes seen in the news. Which of the following statements best describes\/ describe this term? 1. It is a networking of a bank&#8217;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 &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"The term &#8216;Core Banking Solutions&#8217; is sometimes seen in the news. Which\" class=\"read-more button\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-term-core-banking-solutions-is-sometimes-seen-in-the-news-which\/#more-91362\">Detailed Solution<span class=\"screen-reader-text\">The term &#8216;Core Banking Solutions&#8217; is sometimes seen in the news. Which<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1092],"tags":[1098,1120,1190],"class_list":["post-91362","post","type-post","status-publish","format-standard","hentry","category-upsc-ias","tag-1098","tag-economic-development","tag-money-banking","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The term &#039;Core Banking Solutions&#039; is sometimes seen in the news. 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