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Short Notes On CBS..!!

CBS refers to software applications that enable centralized recording, storage, and processing of customer transactions and account information. It allows customers to access their complete bank account details and conduct transactions through multiple channels like internet banking, mobile banking, and ATMs. CBS was introduced in India based on recommendations from a 1984 committee to computerize banks. Syndicate Bank was the first public sector bank to implement CBS, launching its first CBS branch in Bangalore. CBS provides benefits to both customers and banks by offering 24/7 banking access, convenience, reduced operational costs, and improved customer satisfaction.

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200 views

Short Notes On CBS..!!

CBS refers to software applications that enable centralized recording, storage, and processing of customer transactions and account information. It allows customers to access their complete bank account details and conduct transactions through multiple channels like internet banking, mobile banking, and ATMs. CBS was introduced in India based on recommendations from a 1984 committee to computerize banks. Syndicate Bank was the first public sector bank to implement CBS, launching its first CBS branch in Bangalore. CBS provides benefits to both customers and banks by offering 24/7 banking access, convenience, reduced operational costs, and improved customer satisfaction.

Uploaded by

Jaskirat Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Short Notes on CBS..!!

The term CORE means - Centralized Online Real-time Exchange.


What is CBS?
CBS refers to the software applications for recording transactions, storing customer information,
calculating interest and completing the process of passing entries in a single database.
What CBS does?
CBS enables accessing of complete customer account details centrally. It makes it possible for a bank
customer to access his bank account through whichever channel he prefers like internet banking,
mobile banking, ATM etc.
CBS in India
This initiative was taken by the banks on the basis of First Rangarajan Committee report on bank
computerisation submitted in the year 1984.
The committee was constituted under the chairmanship of Dr. C. Rangarajan (Then deputy governor
of RBI).
Old generation banks initially were hesitant about this but with the advent of new generation private
sector banks in India during 1994-1996, the real era of bank marketing started and these banks
started to offer any-where and any-time banking facilities to its customers.
Syndicate Bank was the first among the Public Sector Banks to implement Core Banking.
First CBS branch of Syndicate bank was Jayanagar Branch in Bangalore.
Benefits of CBS
A. Benefits for the customers

Through CBS a bank customer can avail banking facilities (transactions) 24x7.

It is time saving, convenient and efficient.

B. Benefits for the banks

This paradigm shift in banking has revolutionised the speed, efficiency and reach of the
delivery systems. It gives greater customer satisfaction which is essential for every bank in
this day an age.

Since it offers alternate channels than brick and mortar banking, it is a viable alternative to
opening new branches, therefore reduces a banks operational costs.

Alternative for extended working hours.

Reduces long queues in bank cash counters.

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