Answer» - Core banking is a banking facility under which the branches of all the banks are brought under a central server so that banking services from one bank to another is made possible. It operates with the help of internet.
- Facilities like ATM, debit card, credit card, net banking, telebanking, mobile banking, etc. are brought together through core banking.Naturally transactions have become simple.
- Making use of this facility, an individual can send money from his account to his friend’s account else where.
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