Banking · Back Office Operations
A large private bank experiences a discrepancy in its daily NEFT settlement with the RBI. The front office initiated 50,000 transactions, but the RBI's settlement report shows only 49,950 transactions processed. The back office team extracts reports, identifies timed-out transactions, performs manual rectifications, and coordinates with Treasury to resolve the mismatch. What is the primary objective of the back office in this scenario?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To cancel all 50,000 transactions and start over the next day
- 2To physically visit the RBI office and hand over the missing data
- 3To ensure the integrity of the bank's settlement process and reconcile the accounts✓
- 4To market new loan products to the affected customers
Correct answer
To ensure the integrity of the bank's settlement process and reconcile the accounts
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