General Studies · Digital Infrastructure
Consider the following statements regarding Core Banking Solutions (CBS) deployed by banks: 1) CBS enables customers to access and operate their accounts seamlessly from any interconnected branch of the bank. 2) CBS operates on a centralized database architecture that updates transactions in real-time. 3) The implementation of CBS entirely eliminates the statutory requirement for periodic Know Your Customer (KYC) compliance. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 only
- 21, 2 and 3
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- 41 and 2 only✓
Correct answer
1 and 2 only
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