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Accounting in Computerized Environment
What is a Core Banking Solution (CBS) in the context of Indian banking?
CBS is a centralised banking platform where all branches of a bank are connected to a central server, enabling customers to access their accounts and perform transactions from any branch across the network.
What is meant by 'fintech integration' in a computerised banking accounting system?
Linking financial technology tools with core banking for automated processing
Which RBI guideline mandates banks to maintain books of accounts in electronic form?
The Information Technology Act, 2000, read with RBI guidelines on IT governance, permits and effectively mandates banks to maintain electronic books of accounts, provided they are auditable and tamper-proof.
What is a 'chart of accounts' in computerised bank accounting?
Structured list of all ledger accounts used to record transactions
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