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Implementation of Core Banking Systems(CBS) in the Banks: Special

Implementation of Core Banking Systems(CBS) in the Banks:
Special Reference to Sivasagar District

A bank is an institution which deals with money and credit. It accepts deposit from the public, makes the funds available to those who need them, and helps in the remittance of money from one place to another. It is a financial institution that creates demand deposits, that is deposit account which are subject to withdrawal by the owner on demand and subject to transfer to a third party by means of a cheque, in fact a modern bank performs such a variety of functions that is difficult to give a precise and general definition of it. CBS stand for Core Banking System or Core Banking Solution. Core Banking System is another way of saying the core functions of a bank. These functions represent the essential (core) business of banking. Because of the plethora of services banks now provide, it is easy to forget that the root of banking is the accepting deposits and lending money the definition of core banking may have been mudded by the emergence of package computer solution which combine core banking functions, with other elements of a bank s operation but at the most basic level core banking manages financial transactions and their impact on the accounts of each customers. The core banking system will often offer a basic customer database function; often refer to as a customer information file or CIF. The customer of CBS is no more the customer of a branch he becomes the bank customer thus CBS is a step towards enhancing customer convenience through anywhere and anytime banking. In this study I have surveyed and systematically enumerated the banking institutions of Sivasagar district and try to project the present status of the existing Banks which were implementing CBS facility in their transactions and services. For the present research work, study has been made in the field of Sivasagar district especially dominant banking institutions located areas of Sivasagar district. For this aspect information s is gathered through the questionnaire, interact with Chief Manager, Lead District Officer, Senior Manager and Branch Manager of various Banks.

Banking, Core Banking System, Sivasagar
Core Banking is a general term used to describe the services provided by a group of networked bank branches. Bank Customers may access their funds and other simple transactions from any of the member branch offices at Real Time. Core banking is normally defined as the business conducted by a banking institution with its retail and small business customers. Many banks treat the retail customers as their core banking customers and have a separate line of business to manage small businesses. Larger businesses are managed via the corporate banking division of the institution. Core banking is basically depositing and lending of money. From business perspective Core Banking relates to the basic business of a bank or financial institution. That in a nut shell is taking deposits from customers and lending to customers. While doing so, ensure that profits are generated for the bank. From a technology perspective Core Banking is the short name for a Centralized Banking system that a bank has to deploy in order to perform its core banking business.
There are 5 ingredients that form part of the Core Banking system. These are the essential building blocks for the entire bank / institution.
(a) General Ledger:
The absolute Core is the General Ledger of the bank accordingly, the absolute core of the banking system is the General Ledger system, every single financial activity that happens at any location within entire bank has to be reflected in the G.L. system that generates the financial statements for the entire bank which provides any entity to monitor the financial health of the bank. In a Core Banking System, this is achieved by deploying a centralized G.L. System which provides for thousands of sub legers with. Level's start with individual branch G.L. rolled up to regional G.L. with further rollup of all regional G.L's to bank G.L. financial transactions from various sources throughout the bank update these subsidiary ledgers and the G.L. system then performs rollups to report at branch, region, zone, country wise head office and any other level that is required by the bank / financial institution.
(b) Customer Information System:
The next major ingredient of a Core Banking system is the Customer Information System or CIS. Accordingly in the CIS, a customer is identified by uniquely by his / her CIS number and all information related to that customer (name, address, phones, employment, credit history, relatives, family members, and demographic data) is stored along with this unique number. All this is stored in a centralized CIS system allowing the customer to visit any branch to do business with the bank.
© Deposit System:
The third major ingredient is the deposit system. The ability to process various types of deposits is a must. These include current, savings, time deposit and hundreds of variations in each of these. e.g. Simple current accounts, current accounts with overdraft, cash credit accounts, variable rate overdrafts, simple savings, multi-currency savings, time deposits, CDS, variable rate time deposit, recurring deposits, multi-currency, time deposits, and so on. This is required to handle the liability side of the bank / financial institution's business.
(d) Loan System:
The fourth major ingredient is the loan system. This system handles the asset side of this business. In most banks / financial institutions around the world loans are separated by those to retail customer and those to commercial customers processing requirement of loans to corporate customers is different form retail customers and hence there are loan systems that cater to retail customers and those that cater to commercial or corporate customers.
The loan process in a bank involves multiple stems. The loan appraisal and sanction step, the disbursement and monitoring step, the non-performance tracking step the recovery step and the closure.

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