Core Banking Solutions Current Affairs, GK & News

RBI directs banks to link SWIFT to core banking solutions by April 2018

The Reserve Bank of India (RBI) has directed banks to link SWIFT (Society for World Interbank Financial Telecommunication System platform) with their core banking solutions (CBS) by April 30, 2018.  This decision is part of RBI’s efforts to tighten internal controls in banks following Rs 11,400 crore fraud that was unearthed at Punjab National Bank ..