Prelims • Paper 1 (GS) • 2016 • Q.29
Economy and Banking
The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term?
1
It is a networking of a bank'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 is an effort to increase RBI's control over commercial banks through computerization.
3
It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.
Syllabus Connection
Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc. (Prelims)
NCERT Connection
Ch.3: Money and Credit
Economics • Class 10 • Class 10 Understanding Economic Development
Ch.3: Money and Banking
Economics • Class 12 • Class 12 Macroeconomics