CORE BANKING SYSTEMS AND ACCOUNTING IN COMPUTERISED ENVIRONMENT
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Accounting and Financial Management for Bankers — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is Core Banking Solution (CBS) in the context of Indian banking?
CBS is a centralised banking software that enables customers to access their accounts and perform banking transactions from any branch, anytime, as all branches are connected to a central server.
What is the primary advantage of centralised database architecture in CBS?
All branches access a single shared database in real time.
Which regulatory body mandates the adoption of CBS for banks in India?
The Reserve Bank of India (RBI) mandates CBS adoption and has made it a prerequisite for banks to offer various digital and real-time banking services.
What is a Chart of Accounts in computerised banking?
A structured list of all GL account codes used by the bank.
What does the term 'anywhere banking' signify under CBS?
Anywhere banking means a customer of one branch can conduct transactions at any other branch of the same bank, since all branches share a common centralised database.
What does SOX compliance mean for banks using CBS?
Ensuring financial reporting accuracy and internal control integrity.
What is a General Ledger (GL) in a computerised banking environment?
The General Ledger is the master set of accounts that summarises all financial transactions of a bank and forms the basis for preparing financial statements in CBS.
What is a bank reconciliation statement in a computerised environment?
A statement matching bank ledger balances with external records.
Video classes for this chapter
CORE BANKING SYSTEMS AND ACCOUNTING IN COMPUTERISED ENVIRONMENT PART 1
Core Banking Systems and Accounting in Computerised Environment
core banking systems and Accounting in computerised environment
Core Banking Systems and Accounting in Computerised Environment
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