Question
Download Solution PDFTo improve internal control of banks, Reserve Bank of India has asked all banks to do what till 30 April 2018?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is To connect SWIFT with its Basic Banking Solution (CBS).
Key Points
- To improve the internal control of banks, the Reserve Bank of India has asked all banks to connect SWIFT with its Basic Banking Solution (CBS) till 30 April 2018.
- Hence, option 1 is correct.
Additional Information
- Reserve Bank of India
- The Reserve Bank of India is India's central bank, responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
- It also manages the country's main payment systems and works to promote its economic development.
- Governor: Shaktikanta Das
- Headquarters: Mumbai, Maharashtra, India
- Established: 1 April 1935; 85 years ago
Last updated on Jun 2, 2025
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