1. Can the new Finacle application handle automatic transfer of funds between accounts (electronic transfer of funds between accounts)?
Yes, Finacle supports all modes of electronic transfer of funds like NEFT, ECS, and RTGS. Interbank and Intra-bank transfers are in scope of CBS project.
2. Certificates (NSC & KVP) being digitized as a part of CBS project? What type of schemes will be digitized?
All (schemes) types of accounts will be digitized as a part of CBS project; even discontinued schemes will be stored in the centralized server after digitization. So, digitized & manual certificates will definitely be migrated to the new Finacle software. The idea is to have all accounts in digitized form in the new software system.
New certificates will be issued using Finacle software.
3. Explain the concept of CPC with respect to PLI and CBS.
CPCs or Circle Processing Centres are envisioned to do all bulk operations related to accounts opening and processing. CPC will perform tasks like scanning of documents, updating account details, KYC check etc.
For CBS, 22 CPCs are planned across India, one for each circle.
The standard requirement area of CPC is 1000sqft (for POSB) to begin with and will increase (along with staff) as the volume of work increases. Circles may have to identify space that could be scalable in future based on the volume of accounts to be handled.
4. Will there be a single window (URL) for Banking and Insurance transactions?
No, banking transactions will be maintained/ operated through Finacle software and insurance transactions will be handled in McCamish software. Since Finacle and McCamish are two different software's with different architecture two different URLs will be provided for banking and insurance operations. But these URLs will be maintained in a single location of CSI.
5. Are Finacle reports customized?
Yes, most of the reports are customized according to the requirements of the post office. However one cannot add new fields to extract reports. E.g. if Date of Birth is not listed in the list of items of a report, a user cannot add Date of birth to the report.
Totally 25 Numbers of Questions and Answers are available and its contain 7 Pages of PDF File.
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