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Business Services-2 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-23 Marks
Question
Write short note on Core Banking.
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Answer

  • Core means Centralized Online Real-Time Exchange.
  • In this banking system all branches life the bank all over the world are linked with centralized server.
  • Any branch of the bank has the information of all the details of all accounts.
  • The changes occur during transactions in any account can be observed from any branch of the bank.
  • As a result the account holder of this bank can operate his account from any branch of the bank.
  • Means he can deposit and withdraw money from his account.

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