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Q29 (IAS/2016) Economy › Money, Banking & Inflation › Banking operations services Official Key

The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term? 1. It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. 2. It is an effort to increase. RBI's control over commercial banks through computerization. 3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank. Select the correct answer using the code given below.

Result
Your answer: —  ·  Correct: A
Explanation

The correct answer is option A (1 only).

Core Banking Solutions (CBS), where Core stands for 'Centralised Online Real-time Exchange', is a network of branches which enables account holders to operate their accounts and avail banking services from any branch of the Bank on CBS network, regardless of where they maintain their account.[1] Under this system, the customer is no more the customer of a Bank's Branch but becomes the overall Bank's Customer.[1] This accurately describes statement 1, making it correct.

Statement 2 is incorrect because CBS is not an effort to increase RBI's control over commercial banks through computerization. Rather, it is a technological solution adopted by individual banks to improve customer service and operational efficiency. E-Kuber is the Core Banking Solution (CBS) platform of RBI[1], but this is RBI's own CBS system for conducting G-Sec auctions, not a control mechanism over commercial banks.

Statement 3 is completely incorrect as CBS has nothing to do with the takeover of banks with non-performing assets. It is purely a technology platform for banking operations, not a procedure for bank resolution or merger.

Sources
  1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
How others answered
Each bar shows the % of students who chose that option. Green bar = correct answer, blue outline = your choice.
Community Performance
Out of everyone who attempted this question.
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got it right
PROVENANCE & STUDY PATTERN
Full view
Don’t just practise – reverse-engineer the question. This panel shows where this PYQ came from (books / web), how the examiner broke it into hidden statements, and which nearby micro-concepts you were supposed to learn from it. Treat it like an autopsy of the question: what might have triggered it, which exact lines in the book matter, and what linked ideas you should carry forward to future questions.
Q. The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term? 1. …
At a glance
Origin: Books + Current Affairs Fairness: Low / Borderline fairness Books / CA: 3.3/10 · 3.3/10

This is a classic 'Definition Question' disguised as Current Affairs. While the term appears in news, it is a static concept found in every standard Economy textbook (Singhania, Vivek Singh). If you know the basic definition of CBS, the distractors (RBI control, NPA takeover) are easily identified as absurd.

How this question is built

This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.

Statement 1
Is "Core Banking Solutions" the networking of a bank's branches that enables customers to operate their accounts from any branch of the bank regardless of where they opened their accounts?
Origin: Direct from books Fairness: Straightforward Book-answerable
From standard books
Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
Presence: 5/5
“Under Core Banking Solution (CBS), Core stands for 'Centralised Online Real-time Exchange'. CBS is a network of branches which enables account holders to operate their accounts and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Bank's Branch. He becomes the overall Bank's Customer. E-Kuber: It is the Core Banking Solution (CBS) platform of RBI which is used by RBI to conduct auctioning of G-Secs. Commercial Banks, Scheduled UCBs, Primary Dealers, Insurance Companies and Provident Funds who maintain Current Account and Securities Accounts with RBI are the members of E-Kuber and can take part in auction.”
Why this source?
  • Directly defines CBS as a network of branches enabling account holders to operate accounts and avail services from any branch on the CBS network.
  • Explicitly states the customer becomes the overall bank's customer rather than a branch-level customer.
  • Gives the expansion of 'Core' as 'Centralised Online Real-time Exchange', supporting the centralised network function.
Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > How will e-Rupee work? > p. 78
Presence: 3/5
“And the requirement of inter-bank settlement would disappear.• Transactions can be both person to person and person to merchant (payments to merchants can be made using QR Codes)• Users will be able to transact with e-rupee through a digital wallet offered by the participating banks and stored on mobile phones and other devices• Just like we withdraw cash from our bank deposits in the same way we can transfer our bank deposits to a CBDC wallet and this transaction is recorded in Core Banking Solution (CBS) of the bank.• But when transactions are made from one CBDC wallet to another CBDC wallet then this transaction is not recorded in the CBS of the bank and remains anonymous.”
Why this source?
  • States that bank transactions (including transfers to/from digital wallets) are recorded in the bank's Core Banking Solution, showing CBS's role in transaction routing/recording.
  • Links CBS to digital payment infrastructure (e‑rupee), reinforcing CBS as the centralised system enabling inter-branch/online operations.
Statement 2
Does the term "Core Banking Solutions" refer to an effort to increase the Reserve Bank of India's control over commercial banks through computerization?
Origin: Web / Current Affairs Fairness: CA heavy Web-answerable

Web source
Presence: 4/5
"launched a platform to enable trading in the certificates through its Core Banking Solution (CBS) portal (e-Kuber)."
Why this source?
  • Explicitly identifies Core Banking Solution (CBS) as a portal (e-Kuber) used to enable trading in Priority Sector Lending Certificates, indicating an operational/transactional IT platform rather than a means to increase regulatory control.
  • Shows CBS being used as a technical channel for transactions between banks and the RBI, not described as a tool to expand oversight authority.
Web source
Presence: 3/5
"The RBI’s core responsibilities include regulating and supervising commercial banks, formulating monetary policy, managing currency issuance, and ensuring"
Why this source?
  • Describes the RBI’s core responsibilities as regulating and supervising commercial banks, showing regulation is an established function but not indicating that CBS is intended to expand that control via computerization.
  • Provides context that RBI’s oversight is regulatory in nature, separate from a specific technology term’s meaning.
Web source
Presence: 3/5
"The Bank is currently regulated by the Reserve Bank of India (RBI), which may continue. However, the RBI applies to the Bank, a hybrid mix of regulations designed for commercial banks and/or financial institutions (FIs) and non-banking financial companies (NBFCs) as a class."
Why this source?
  • States that the Bank is regulated by the RBI and that RBI applies regulatory norms, indicating regulation occurs via rules and norms rather than being defined as computerization efforts like CBS.
  • Suggests RBI’s influence is through regulatory frameworks, not that the term 'Core Banking Solutions' denotes an attempt to increase RBI control.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
Strength: 5/5
“Under Core Banking Solution (CBS), Core stands for 'Centralised Online Real-time Exchange'. CBS is a network of branches which enables account holders to operate their accounts and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Bank's Branch. He becomes the overall Bank's Customer. E-Kuber: It is the Core Banking Solution (CBS) platform of RBI which is used by RBI to conduct auctioning of G-Secs. Commercial Banks, Scheduled UCBs, Primary Dealers, Insurance Companies and Provident Funds who maintain Current Account and Securities Accounts with RBI are the members of E-Kuber and can take part in auction.”
Why relevant

Gives an explicit definition of Core Banking Solution (CBS) as a network of bank branches enabling customers to use any branch; also notes 'E-Kuber' is an RBI CBS platform used by RBI for G-Sec auctions.

How to extend

A student could contrast the customer-centred definition of CBS with RBI's use of its own CBS platform (E-Kuber) to assess whether CBS generally implies increased RBI control of commercial banks.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > 2016| > p. 250
Strength: 4/5
“The term 'Core Banking Solution' is sometimes seen in the news. Which of the following statements best describes/describes this term? • 1. It is networking of a bank's branches which enable customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. • 2. It is an effort to increase RBI's control over commercial banks through computerisation. Select the correct answer using the code given below: (b) 2 and 3 only (a) 1 and 2 only (d) 1. 2 and 3 (c) 1 and 3 only 26.”
Why relevant

Presents the precise multiple-choice formulation that contrasts (i) networking of branches with (ii) 'effort to increase RBI's control through computerisation', indicating these are commonly offered alternative descriptions.

How to extend

This shows the alleged RBI-control meaning is a stated alternative; a student could use this to frame which meaning is correct by further checking authoritative definitions or exam answers.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 2.31 Previous Years Questions > p. 118
Strength: 4/5
“• (ii) It is an effort to increase RBI's control over commercial banks through computerization.• (iii) It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank Select the correct answer using the code given below. • (a) (i) only• (b) (ii) & (iii) only• (c) (i) & (iii) only• (d) (i), (ii) & (iii)• 24. What is/are the purpose/purposes of the 'Marginal Cost of Funds based Lending Rate (MCLR)' announced by RBI? [2016] • (i) These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.• (ii) These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as the banks.”
Why relevant

Shows the same option (effort to increase RBI control) appearing in previous-questions material, implying it's a recurring distractor or claim in study texts.

How to extend

A student could use the recurrence to suspect it's a common misconception and look up primary definitions or RBI mandates to confirm or refute it.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > How will e-Rupee work? > p. 78
Strength: 4/5
“And the requirement of inter-bank settlement would disappear.• Transactions can be both person to person and person to merchant (payments to merchants can be made using QR Codes)• Users will be able to transact with e-rupee through a digital wallet offered by the participating banks and stored on mobile phones and other devices• Just like we withdraw cash from our bank deposits in the same way we can transfer our bank deposits to a CBDC wallet and this transaction is recorded in Core Banking Solution (CBS) of the bank.• But when transactions are made from one CBDC wallet to another CBDC wallet then this transaction is not recorded in the CBS of the bank and remains anonymous.”
Why relevant

States that bank deposit-to-CBDC transfers are 'recorded in Core Banking Solution (CBS) of the bank' while certain CBDC wallet-to-wallet transactions are not recorded in bank CBS.

How to extend

A student could use this to infer CBS is a record-keeping/processing system for banks (not primarily an instrument of RBI control), and then check whether recording capability equates to regulatory control.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 2.14 RBI and its Functions > p. 65
Strength: 3/5
“The Reserve Bank of India is the central bank of the country. Central banks are a relatively recent innovation and most central banks, as we know them today, were established around the early twentieth century. The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935. The Bank began its operations by taking over from the Government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of Government accounts and public debt.”
Why relevant

Summarizes RBI's statutory role and functions as the central bank (established by RBI Act), providing context about where formal control over banks legally resides.

How to extend

A student could combine the statutory role of RBI with the CBS definition to ask whether computerization (CBS) changes RBI's statutory powers or is merely operational technology.

Statement 3
Is "Core Banking Solutions" a detailed procedure by which a bank with huge non-performing assets is taken over by another bank?
Origin: Weak / unclear Fairness: Borderline / guessy
Indirect textbook clues
Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
Strength: 5/5
“Under Core Banking Solution (CBS), Core stands for 'Centralised Online Real-time Exchange'. CBS is a network of branches which enables account holders to operate their accounts and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Bank's Branch. He becomes the overall Bank's Customer. E-Kuber: It is the Core Banking Solution (CBS) platform of RBI which is used by RBI to conduct auctioning of G-Secs. Commercial Banks, Scheduled UCBs, Primary Dealers, Insurance Companies and Provident Funds who maintain Current Account and Securities Accounts with RBI are the members of E-Kuber and can take part in auction.”
Why relevant

Defines Core Banking Solution (CBS) as a centralized online real-time network of branches that lets customers operate accounts from any branch — an IT/operational platform.

How to extend

A student could extend this by noting that an IT platform for retail account operations is conceptually different from a legal/financial takeover process, so CBS is unlikely to be the takeover procedure.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > 2016| > p. 250
Strength: 4/5
“The term 'Core Banking Solution' is sometimes seen in the news. Which of the following statements best describes/describes this term? • 1. It is networking of a bank's branches which enable customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. • 2. It is an effort to increase RBI's control over commercial banks through computerisation. Select the correct answer using the code given below: (b) 2 and 3 only (a) 1 and 2 only (d) 1. 2 and 3 (c) 1 and 3 only 26.”
Why relevant

Presents CBS as 'networking of a bank's branches' and frames multiple-choice options that separate this meaning from other assertions.

How to extend

Combine with basic logic about definitions: if CBS is described as branch networking in multiple sources, that weakens the claim that it is a takeover procedure.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 2.31 Previous Years Questions > p. 118
Strength: 4/5
“• (ii) It is an effort to increase RBI's control over commercial banks through computerization.• (iii) It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank Select the correct answer using the code given below. • (a) (i) only• (b) (ii) & (iii) only• (c) (i) & (iii) only• (d) (i), (ii) & (iii)• 24. What is/are the purpose/purposes of the 'Marginal Cost of Funds based Lending Rate (MCLR)' announced by RBI? [2016] • (i) These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.• (ii) These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as the banks.”
Why relevant

Contains an exam-style listing where (iii) states the takeover claim, placed alongside other descriptions (including computerization), implying it's a contested/alternative description.

How to extend

A student could infer that because the takeover description appears as one of several options, it is not the standard definition and should be verified against the primary CBS meaning.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Bad Bank > p. 231
Strength: 5/5
“• A Bad Bank is a bank set up to buy the bad loans and stressed assets of a financial institution. The banks sell their NPAs (Non-Performing Assets) to the bad bank at market price. By transferring such assets to the bad bank, the original institution clears its balance sheet - although it is still forced to take write-downs.• Bad banks are typically set up in times of crisis when long-standing financial institutions ·are trying to recuperate their reputations and wallets.”
Why relevant

Defines 'Bad Bank' as an entity set up to buy bad loans/NPAs from banks to clean up balance sheets — a mechanism for handling NPAs.

How to extend

Using this, a student can infer that NPAs are typically handled by bad banks/ARCs rather than by an IT system like CBS, so takeover of NPAs is a different technical/financial process.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.8 NPA Crisis and Bad Bank > p. 138
Strength: 4/5
“A bad bank conveys the impression that it will function as a bank but has bad assets (NPAs) to start with. Technically, a bad bank is an asset reconstruction company (ARC) or an asset management company that takes over the bad loans of commercial banks, manages them and finally recovers the money over a period of time. The bad bank is not involved in lending and taking deposits, but helps commercial banks clean up their balance sheets and resolve bad loans. The bad bank concept is in some ways similar to an Asset Reconstruction Companies (ARC) but is funded by the government initially, with banks and other investors co-investing in due course.”
Why relevant

Explains that a bad bank/ARC takes over bad loans and manages recovery, distinguishing asset-resolution entities from normal banking operations.

How to extend

A student could extend this to conclude that procedures for taking over NPAs are aligned with ARCs/bad banks, not CBS, further undermining the statement.

Pattern takeaway: UPSC creates distractors by conflating 'Technical Tools' with 'Regulatory Power' or 'Crisis Mechanisms'. Statement 2 tried to frame a software upgrade as a regulatory power grab, and Statement 3 tried to frame it as an NPA resolution tool. Learn to distinguish between *Operational Tech* (CBS, UPI) and *Regulatory Frameworks* (PCA, Basel Norms).
How you should have studied
  1. [THE VERDICT]: Sitter. Directly solvable from standard sources like Nitin Singhania (Ch: Financial Market) or Vivek Singh (Ch: Money & Banking).
  2. [THE CONCEPTUAL TRIGGER]: Banking Sector Modernization & Digital Infrastructure (The shift from branch-banking to any-where banking).
  3. [THE HORIZONTAL EXPANSION]: Memorize sibling banking infrastructure terms: e-Kuber (RBI's own CBS), INFINET (Indian Financial Network), SFMS (Structured Financial Messaging System), NEFT vs RTGS (Settlement types), and SWIFT (International messaging).
  4. [THE STRATEGIC METACOGNITION]: Always check the full form of acronyms. 'CORE' in CBS stands for 'Centralised Online Real-time Exchange'. Knowing this expansion immediately validates Statement 1 and eliminates the others.
Concept hooks from this question
📌 Adjacent topic to master
S1
👉 Definition and primary function of Core Banking Solution (CBS)
💡 The insight

Reference [2] explicitly defines CBS as a branch network allowing account operation from any branch; this is the core claim in the statement.

High-yield for banking and economy questions: CBS is a foundational digital-banking concept often tested in prelims/GS. Understanding the definition helps answer MCQs and explain branch-level vs bank-level customer relationships in mains answers. Learn by memorising the definition and linking to examples of branch interoperability.

📚 Reading List :
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
🔗 Anchor: "Is "Core Banking Solutions" the networking of a bank's branches that enables cus..."
📌 Adjacent topic to master
S1
👉 Centralised Online Real-time Exchange (meaning of 'Core' in CBS)
💡 The insight

Reference [2] gives the expansion of 'Core', indicating the centralised, real-time nature of CBS important to its function.

Useful for conceptual clarity in both objective and descriptive questions on banking modernization; links to topics like real-time settlement, interoperability and bank IT infrastructure. Master by noting the expansion and contrasting with decentralised legacy branch systems.

📚 Reading List :
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
🔗 Anchor: "Is "Core Banking Solutions" the networking of a bank's branches that enables cus..."
📌 Adjacent topic to master
S1
👉 CBS as the transaction-recording backbone for digital payments (including CBDC/e‑rupee)
💡 The insight

Reference [6] shows CBS records bank deposit-to-wallet transfers and interacts with e‑rupee flows, highlighting CBS's role beyond mere branch networking.

Important for linkage-type mains answers on digital payments, CBDC implementation and banking tech: explains how core banking supports new payment systems. Study by mapping CBS functions (recording, routing, settlement) to payment use-cases and policy implications.

📚 Reading List :
  • Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > How will e-Rupee work? > p. 78
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
🔗 Anchor: "Is "Core Banking Solutions" the networking of a bank's branches that enables cus..."
📌 Adjacent topic to master
S2
👉 Core Banking Solution (CBS) — definition and customer impact
💡 The insight

CBS is defined in the references as a centralized, real-time network of bank branches that lets customers operate accounts from any branch — directly relevant to what CBS actually means.

High-yield for banking/payment-systems questions: distinguishes operational banking IT (branch/networking, customer convenience) from regulatory/policy actions. Mastering this helps answer questions about banking modernization, retail banking operations, and how customer services are delivered in digital banking.

📚 Reading List :
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
🔗 Anchor: "Does the term "Core Banking Solutions" refer to an effort to increase the Reserv..."
📌 Adjacent topic to master
S2
👉 E-Kuber and RBI's use of CBS platforms
💡 The insight

The evidence notes E-Kuber as an RBI CBS platform used by RBI for government securities auctioning and that CBS records certain transactions — showing RBI uses CBS-type systems operationally, not necessarily to 'control' banks.

Useful for questions on payment/settlement infrastructure and RBI-operated platforms (distinguishing operational platforms from supervisory/control instruments). Knowing these examples helps tackle questions on digital public infrastructure, auctioning of G-Secs, and recording/settlement mechanisms.

📚 Reading List :
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
  • Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > How will e-Rupee work? > p. 78
🔗 Anchor: "Does the term "Core Banking Solutions" refer to an effort to increase the Reserv..."
📌 Adjacent topic to master
S2
👉 Reserve Bank functions vs. IT-driven banking operations
💡 The insight

References define RBI's core functions (monetary control, banker to banks) separate from descriptions of CBS as a banking network, highlighting the conceptual difference between central-bank powers and banks' IT systems.

Essential for UPSC: distinguishes policy/regulatory roles of RBI (monetary tools, lender of last resort) from technical/commercial IT changes in banks. Helps answer linkage questions (e.g., whether digitalization implies regulatory control) and supports integrative answers across Money & Banking topics. Prepare by mapping RBI functions to instruments and contrasting with banking operational terms.

📚 Reading List :
  • Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 2.14 RBI and its Functions > p. 65
  • Macroeconomics (NCERT class XII 2025 ed.) > Chapter 3: Money and Banking > 3.4 POLICY TOOLS TO CONTROL MONEY SUPPLY > p. 42
🔗 Anchor: "Does the term "Core Banking Solutions" refer to an effort to increase the Reserv..."
📌 Adjacent topic to master
S3
👉 Core Banking Solution (CBS): centralized real-time branch networking
💡 The insight

CBS is described in the references as a networked, centralized, real-time platform that lets customers operate from any branch and records transactions.

High-yield for banking and economy questions: distinguishes technology/operations (CBS) from resolution mechanisms for stressed banks. Links to digital banking, payment infrastructure and RBI platforms (e.g., e-Kuber). Useful for questions asking to identify functions of banking tech vs regulatory/resolution tools. Learn definitions, key functions, and examples from RBI platforms.

📚 Reading List :
  • Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Core Banking Solution > p. 227
  • Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > How will e-Rupee work? > p. 78
🔗 Anchor: "Is "Core Banking Solutions" a detailed procedure by which a bank with huge non-p..."
🌑 The Hidden Trap

The specific CBS platform used by the RBI itself is called 'e-Kuber'. It enables the auction of Government Securities and is the platform where banks maintain their current accounts with the RBI.

⚡ Elimination Cheat Code

Use the 'Conspiracy Filter'. Statement 2 claims a banking software is an effort to 'increase RBI's control'. UPSC rarely frames technology as a tool for authoritarian centralization; tech is usually framed as an enabler of efficiency, transparency, or service delivery. This negative phrasing is a red flag.

🔗 Mains Connection

Link CBS to GS-3 (Inclusive Growth) and GS-2 (Governance): CBS is the technological backbone of the JAM Trinity. Without the 'Anywhere Banking' capability of CBS, the Direct Benefit Transfer (DBT) system and portability of accounts for migrant workers would be operationally impossible.

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