What CBS offers to a customer?

It offers invariably all information that a bank's customer would need if he/she visits a bank branch in person.

These are as herein follows:-

1. To make enquiries about the balance or debit or credit entries in the account.

2. To obtain cash payment out of his account by tendering a cheque.

3. To deposit a cheque for credit into his account.

4. To deposit cash into the account.

5. To deposit cheques / cash into account of some other person who has account in a CBS branch.

6. To get statement of account.

7. To transfer funds from his account to some other account – his own or of third party, provided both accounts are in CBS branches.

8. To obtain Demand Drafts or Banker’s Cheques from any branch on CBS – amount shall be online debited to his account.

9. Customers can continue to use ATMs and other Delivery Channels, which are also interfaced with CBS platform.

Top CBS Application Software Providers

1-Infosys Technologies Ltd. Finnacle is the universal banking solution from Infosys.

2-I-flex solutions Ltd. since late 2005 it is owned by Oracle

3-TCS FNS (Financial Network Services Limited) is an Australian developer and

supplier of banking application software, operating in world markets. Now owned and

managed by TCS.

Thus, CBS is a step towards enhancing customer convenience through anywhere and anytime banking.

FUNCTIONS OF RBI

RBI (Reserve Bank of India) is an apex financial institution as we know. RBI is Central Bank of India. Lets know about its functions.

Functions of RBI can be classified into following categories:

a) Traditional functions

b) Development functions

c) Supervisory functions