• It is the Reserve Bank of India’s core banking solution system.
  • Member Banks of RBI CFMS are aware that the funds transfer through Centralized Funds Management System (CFMS) has been discontinued with effect from January 1, 2013. Hence, the need for continuation of CFMS is not required any more.
  • The chief reason for discontinuation of CFMS is the launch by RBI of its Core Banking Solution i.e  (E-Kuber) system. With CBS in place, it is very easy for RBI DAD account holders to operate their banking accounts with RBI.