{"id":39052,"date":"2024-04-24T13:42:16","date_gmt":"2024-04-24T13:42:16","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=39052"},"modified":"2024-04-24T13:42:17","modified_gmt":"2024-04-24T13:42:17","slug":"upsc-prelims-2016-question-54","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/upsc-prelims-2016-question-54\/","title":{"rendered":"UPSC Prelims 2016 &#8211; Question 54"},"content":{"rendered":"\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69d46fe9a423d\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d46fe9a423d\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edukemy.com\/blog\/upsc-prelims-2016-question-54\/#Q_The_term_%E2%80%98Core_Banking_Solutions_is_sometimes_seen_in_the_news_Which_of_the_following_statements_best_describesdescribe_this_term\" title=\"Q: The term \u2018Core Banking Solutions\u2019 is sometimes seen in the news. Which of the following statements best describes\/describe this term?\">Q: The term \u2018Core Banking Solutions\u2019 is sometimes seen in the news. Which of the following statements best describes\/describe this term?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edukemy.com\/blog\/upsc-prelims-2016-question-54\/#The_correct_answer_is_1_only\" title=\"The correct answer is\u00a01 only.\">The correct answer is\u00a01 only.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edukemy.com\/blog\/upsc-prelims-2016-question-54\/#In_case_you_still_have_your_doubts_contact_us_on_9811333901\" title=\"In case you still have your doubts, contact us on 9811333901.&nbsp;\">In case you still have your doubts, contact us on 9811333901.&nbsp;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edukemy.com\/blog\/upsc-prelims-2016-question-54\/#Visit_our_YouTube_Channel_%E2%80%93_here\" title=\"Visit our YouTube Channel &#8211;&nbsp;here\">Visit our YouTube Channel &#8211;&nbsp;here<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_The_term_%E2%80%98Core_Banking_Solutions_is_sometimes_seen_in_the_news_Which_of_the_following_statements_best_describesdescribe_this_term\"><\/span>Q: The term \u2018Core Banking Solutions\u2019 is sometimes seen in the news. Which of the following statements best describes\/describe this term?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>a) It is a networking of a bank\u2019s branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.<\/p>\n\n\n\n<p>b) It is an effort to increase RBI\u2019s control over commercial banks through computerization.<\/p>\n\n\n\n<p>c) It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_correct_answer_is_1_only\"><\/span>The correct answer is\u00a01 only.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Core Banking Solution\u00a0(CBS)<\/p>\n\n\n\n<p>It can be defined as a solution that enables banks to offer a multitude of customer-centric services on a 24&#215;7 basis from a single location, supporting retail as well as corporate banking activities.<\/p>\n\n\n\n<p>It is a networking of\u00a0bank\u00a0branches, which allows customers to manage their accounts, and use various\u00a0banking\u00a0facilities from any part of the world.\u00a0Hence statement 1 is correct.<\/p>\n\n\n\n<p>It is a centralized back-end\u00a0system\u00a0that efficiently processes banking transactions across the various branches of a bank.<br>Core Banking Solution\u00a0(CBS) helps in speeding up banking transactions and to expand the presence of banking\u00a0in rural &amp; remote areas.<\/p>\n\n\n\n<p>Statements 2 and 3 are not correct related to the core banking solution.<\/p>\n\n\n\n<p>The centralisation thus makes a \u201cone-stop\u201d shop for financial services a reality. Using CBS, customers can access their accounts from any branch, anywhere, irrespective of where they have physically opened their accounts.<\/p>\n\n\n\n<p>Almost all branches of commercial banks, including the Regional Rural Banks (RRBs), are brought into the core-banking fold.<\/p>\n\n\n\n<p>The e-kuber system can be accessed either through INFINET or Internet. The INFINET is a Closed User Group Network for the exclusive use of member banks and financial institutions and is the communication backbone for the National Payments System.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/edukemy.com\/upsc\/upsc-essay?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Essay\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/UPSC-Essay-Course-1280\u00d7300-1-3.svg\" alt=\"\" class=\"wp-image-42688\" width=\"781\" height=\"182\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-c6ab63ae-7083-4831-b519-cb89dacafb18\"><span class=\"ez-toc-section\" id=\"In_case_you_still_have_your_doubts_contact_us_on_9811333901\"><\/span><strong>In case you still have your doubts, contact us on 9811333901.<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"block-52c5a91b-6ed6-46e3-b781-7cc0c63a0b76\">For UPSC Prelims Resources,&nbsp;<a href=\"https:\/\/edukemy.com\/upsc-cse-prelims-resource-centre\" target=\"_blank\" rel=\"noreferrer noopener\">Click here<\/a><\/p>\n\n\n\n<p id=\"block-d014fe86-d628-49d8-82ce-6c60dc6e7a73\">For Daily Updates and Study Material:<\/p>\n\n\n\n<p id=\"block-38177954-e668-4d8d-b250-d0fbd5a09390\">Join our Telegram Channel &#8211;&nbsp;<a href=\"https:\/\/t.me\/WithEdukemy4IAS\" target=\"_blank\" rel=\"noreferrer noopener\">Edukemy for IAS<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\" id=\"block-49ca2fe3-109f-4a88-b72e-9df49c3d328e\"><li>1. 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Mains Answer Writing Practice &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3mZuVxl\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"block-43ccddc1-5348-445f-ab6b-7baaf29fe58d\"><span class=\"ez-toc-section\" id=\"Visit_our_YouTube_Channel_%E2%80%93_here\"><\/span>Visit our YouTube Channel &#8211;&nbsp;<a href=\"https:\/\/www.youtube.com\/@EduKemyforIAS\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Prepare effectively for the UPSC Prelims exam with comprehensive study resources, practice tests, and expert tips. 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