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Application Softwares

  • Application Software
  • CASA facility
  • Issuance of Credit Card Facility
  • Authorization process of Credit Card Facility
  • Clearing & Settlement process of Credit Card
  • Mortgage Loan


  • Loans and Trade Finance
  • Treasury Process


Application Software-Configuration, Masters, Transactions and Reports

Application Software have primarily four gateways through which enterprise can control functioning, access and use the various menus and functions of the software.


Application Software – Risks and Controls                                 Sample listing of Risks and Controls

w.r.t Application Controls



IT Controls

Incorrect interest calculation

Controls to check interest correctly calculated & rounded off.

Incorrect rate assignment

Interest rate code assignment by proper authority.

Inappropriate reversal of charges resulting in loss of revenue.

System does not permit reversal of the charges in excess of the original amount charged.

Inappropriate set up of accounts resulting in violation of business rules.

The system parameters are set up as per business process rules of the bank.

Failure to levy appropriate charges resulting in loss of revenue. Inappropriate levy of charges, resulting in customer


System does not permit closing of an account having zero balance without re- covering the applicable account closure charges.

Incorrect classification and provisioning of NPAs, resulting in financial misstatement.

Configuration/ customization exists in the application to perform the NPA classification as per relevant RBI guidelines.

These are as follows:


  • It refers to the way a software system is set up for use.
  • It is the first step after installing the software.
  • Could include both hardware and software parameters.
  • Configuration will define how software will function and what menu options are displayed. Some examples of configuration are given here:
    • Creation of User Types
    • User Access & privileges - Configuration & its management
    • Password Management


  • In a CBS software, Masters refer to the setting parameters for various types of product and services.



  • It is also referred to as standing data as these are changed only when required and will require higher level of access.

Some examples of masters are as follows:

  • Customer Master: Customer type, details, address, PAN details,
  • Employee Master: Employee Name, Id, designation, level, joining details, salary, leave, etc.


  • In the context of CBS software, Transactions refer to the actual transactions of various poducts and services.

Some examples of transactions are given here:

  • Deposit transactions
  • Advances transactions
  • ECS transactions

Reports: reports which are periodically generated or on demand. Some examples of reports are as follows:

  • Summary of transactions of day
  • Daily General Ledger (GL) of day
  • MIS report for each product or service
  • Reports covering performance/compliance
  • Reports of exceptions, etc.

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