CORE banking solution details.Core banking solution simple called as CBS is very important concept in banking and currently all the commercial banks have started providing core banking solution to its customers. Candidates who have been preparing for the banking examination will need to understand the concept of core banking solution which will help them in written test as well as interviews. In the written test question related to CBS is asked in the general awareness section and in interviews it is asked to estimate the knowledge of candidates in the banking concepts.
This is generally a new concept which has been started in the bank to join all the branches through a single network and the details of any bank account can be seen in any of the branch of that bank. The customer of that branch becomes the customer of the bank as a whole as he/ she does not require to go to that branch only. The transaction can be completed through any other branch in the country.
Core Banking solution details for interviews
Candidates who want to prepare for interview process need to know the CBS details and its use in the banking system. It is a centralized network through which all the branches of the bank are connected and we can check any account, make any transaction etc through any of the branch of that bank. It has make banking easier for the banker as well as for the customer. Some of the functions of the CBS has been mentioned below.
- To make enquiries about the balance or debit or credit entries in the account.
- To obtain cash payment out of his account by tendering a cheque.
- To deposit a cheque for credit into his account.
- To deposit cash into the account.
- To deposit cheques / cash into account of some other person who has account in a CBS branch.
- To get statement of account.
- To transfer funds from his account to some other account – his own or of third party, provided both accounts are in CBS branches.
- To obtain Demand Drafts or Banker’s Cheques from any branch on CBS – amount shall be online debited to his account.
- Customers can continue to use ATMs and other Delivery Channels, which are also interfaced with CBS platform.
Thus the purpose of CBS is to operate a bank account anywhere and anytime.