Banking · Shared Service Centres
Assertion (A): The centralization of back office functions into a Shared Service Centre (SSC) significantly reduces the operational cost for a bank and enhances the quality of internal control mechanisms. Reason (R): Centralization allows for the specialization of labor, the implementation of robust Straight Through Processing (STP) technologies, and provides a unified view of the bank's global risk position by eliminating data silos across various branches.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is false but R is true.
- 2A is true but R is false.
- 3Both A and R are true but R is not the correct explanation of A.
- 4Both A and R are true and R is the correct explanation of A.✓
Correct answer
Both A and R are true and R is the correct explanation of A.
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