Core banking is services provided by a group of networked banks or post offices. Customers may access their funds and other simple transactions from any of the member branch offices.
What is a CIF number ?
A CIF (Customer Identification Number) is a 9 digit unique number allotted for each customer. Once a CIF id is generated for a particular customer, he can use the number for further transactions such as opening of other savings bank accounts like MIS/TD/NSC/RD. The main advantage is that the counter PA need not enter the customer details again and again for each account opening. Once PA enters the CIF id, all the details get populated and he need to enter only the deposit amount, nomination details etc.
What is a SOL id ?
SOL - Service Outlet Id is unique number that represents a particular post office. It is an 8 digit number resembling pin code. A CBS enabled office is identified by its SOL id. It is somewhat like IFSC code used in banks.
Maker - Checker Concept or Double Entry concept :
In CBS, all the transactions are based on double entry scheme. Counter PA makes a data entry (a/c opening, deposit, withdraw etc.). Whatever the entry made by PA, the supervisor has to verify the entry. The posting of entry happens only when the supervisor verifies the entry. If the supervisor finds anything wrong in the entry, he can reject the same and PA has to make sufficient modifications.
CPC - Central Processing Centers
For every postal circle there should be a CPC, which plays an important role in CBS implementation. Each CPCs are arranged with an aim of digitization of
the data collected at POs during account opening. i.e.,
1. A new customer approaches a CBS enabled PO for opening an SB account.
2. PA opens the account after collecting sufficient documents such as address proof, photo identity proof, supervisor verifies it.
3. The documents collected with SB3 should be sent to CPC.
4. CPC would scan the documents and will return the forms and documents to the respective office.
What is a CIF number ?
A CIF (Customer Identification Number) is a 9 digit unique number allotted for each customer. Once a CIF id is generated for a particular customer, he can use the number for further transactions such as opening of other savings bank accounts like MIS/TD/NSC/RD. The main advantage is that the counter PA need not enter the customer details again and again for each account opening. Once PA enters the CIF id, all the details get populated and he need to enter only the deposit amount, nomination details etc.
What is a SOL id ?
SOL - Service Outlet Id is unique number that represents a particular post office. It is an 8 digit number resembling pin code. A CBS enabled office is identified by its SOL id. It is somewhat like IFSC code used in banks.
Maker - Checker Concept or Double Entry concept :
In CBS, all the transactions are based on double entry scheme. Counter PA makes a data entry (a/c opening, deposit, withdraw etc.). Whatever the entry made by PA, the supervisor has to verify the entry. The posting of entry happens only when the supervisor verifies the entry. If the supervisor finds anything wrong in the entry, he can reject the same and PA has to make sufficient modifications.
CPC - Central Processing Centers
For every postal circle there should be a CPC, which plays an important role in CBS implementation. Each CPCs are arranged with an aim of digitization of
the data collected at POs during account opening. i.e.,
1. A new customer approaches a CBS enabled PO for opening an SB account.
2. PA opens the account after collecting sufficient documents such as address proof, photo identity proof, supervisor verifies it.
3. The documents collected with SB3 should be sent to CPC.
4. CPC would scan the documents and will return the forms and documents to the respective office.
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