CUET 2026 MCQ Quiz on Banking Apps

CUET 2026 MCQ Quiz on Banking Apps – Objective Question Answers on Banking Apps

Banking Apps MCQs – Get MCQ Quiz on Banking Apps. Multiple Choice Questions (MCQs) Questions on Banking Awareness are asked in many competitive exams in their General Knowledge Section. Here we have compiled the MCQ Question on Banking Apps launched by various banks. Practice MCQ Quiz on Banking Apps

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1. Bank does not give loan against

a.Lottery Ticket

b.NSC

c.LIC Policy

d.Gold Ornaments

2. Who can open a bank account?

a.Indian Citizen

b.Illiterate

c.All of above

d.Non Resident Indian

3. ATM password should be kept in

a.All of the above

b.Memory

c.Office Diary

d.Personal Diary

4. What is the name given to the online payment services that all internet banking customers can use?

a.All of these

b.E pay

c.E-commerce

d.ECS

5. Transferring money between banks for international wire transfers uses

a.BIC Codes

b.MICR Codes

c.SWIFT Codes

d.IFSC Codes

6. The best alternative banking service to branch banking to be the part of financial inclusion?

a.Mobile Banking

b.Set-up ATMs

c.Establishment of Small Branches

d.Giving Credit cards

7. Many times we read a term CBS used in banking operations. What is the full form of the letter C in the term 'CBS'?

a.Continous

b.Complete

c.Core

d.Credit

8. In E-commerce what is meant by B2B?

a.All of the above

b.It suggests transactions between banks and capitalists

c.The deals between business to banks

d.It means trade between business to business

9. Which of the following banks has opened the country's first, 'Cash Factory' in Lucknow which will issue currency notes to all its branches and ATM in that area?

a.State Bank of India

b.Bank of India

c.Union Bank of India

d.Bank of Baroda

10. What amount does a bank have to pay to customers for delays in re-crediting the amount beyond 7 working days in case of a failed ATM transaction?

a.Rs. 500

b.Rs. 100

c.Rs. 200

d.Rs. 300

11. Which payment mode is used for making bulk payment of amounts?

a.IMPS

b.RTGS

c.ECS Credit

d.NEFT

12. The money market in India consists of two sectors namely the organised and the unorganised sector. Which of the following do not fall under the unorganised sector?

a.Indigenous banks

b.RBI, commercial banks and SBI

c.LIC and GIC

d.Unit Trust of India

13. All Inter-Bank Funds Transfer System, where funds are transferred as and when the transactions are triggered, is called

a.bill payment service

b.Internet banking

c.Mobile banking

d.Real time gross settlement

14. Block Chain Technology was created by

a.AXIS Bank

b.SBI

c.ICICI Bank

d.HDFC Bank

15. The ATMs which are set up, owned and operated by non-banks are called

a.None of these

b.White Label ATMs

c.Brown Label ATMs

d.Blue Lable ATMs

16. National Automated Clearing House (NACH) has been launched for

a.Both a and b

b.Clearing cheques

c.Clearing loans

d.Facilitating interbank electronic transactions

17. Lot of banks in India these days are offering M-Banking facility to their customers. What is the full form of M in M-Banking?

a.Marginal

b.Mobile

c.Message

d.Money

18. Currently, banks claim that they have achieved 100% CBS. What are they referring to?

a.All of the above

b.It suggests complete banking services

c.It is an indication of customized banking services

d.It means all their branches are technology driven with core banking solutions

19. Banks and other institutions have issued debt and credit cards, the purpose of both are

a.Different, since in credit card, the account is credited with the amount while in debit card the account is debited

b.Different, since in debit cards interest for delayed period is charged while in credit cards no such interest is charged by banks

c.The same, there is a risk weight-age of 125% in both the cards.

d.The same, to make paperless payments

20. KYC means

a.Know your customer

b.Both of the above

c.Know your character

d.None of the above

21. Which is the card that looks like any other plastic card or an ATM card with Integrated Circuit (IC chip)?

a.Credit Card

b.Smart Card

c.Member Card

d.Charge Card

22. Which of the following is necessary to transfer funds through the RTGS facility?

a.All of the above

b.The IFSC number of the beneficiary's bank branch

c.There is a minimum amount specified for transfer

d.Beneficiary's bank account number

23. Which cryptocurrency has hit its highest level in 3 years following India's demonetisation?

a.Bitcoin

b.Rupay

c.USSD

d.UOI

24. A 'Debit Card' is issued by a bank to

a.All customers having loan account with a bank

b.All customers having savings bank

c.All customers of a bank

d.A bank customer who is income tax assesee

25. National Financial Switch' has been set- up to facilitate connectivity between the bank's switches and their ATMs and inter- bank payment gateway for authentication and routing the payment details of various e-commerce transactions. Which organisation has set-up this switch?

a.SBI

b.IBRD

c.IDRBT

d.SIDBI

26. RTGS stands for

a.Real Time Gross Settlements

b.Real total Gross Securities

c.Reduced Time Gross Settlements

d.Relative Time Gross Settlements

27. E-commerce is increasingly becoming a popular mode of doing business. What is this way of operating?

a.Placing orders on the phones

b.Getting 30 days credit period for payment

c.Buying goods and services online from vendors

d.Payment has to be made in advance before goods/ services are delivered

28. Can an illiterate person be issued a debit card?

a.Yes

b.Only in case he is head of famliy

c.No

d.Only in case of joint account

29. A-card stores and provides identification authentication, data storage and application processing applications

a.Smart Card

b.ATM Card

c.Debit Card

d.Credit Card

30. Electronic Funds Transfer at Point of Sale involves funds transfers based on the use of

a.Debiti Cards

b.Both a and B

c.Credits Cards

d.None of these

31. Interest on Savings Bank Deposits is paid

a.Yearly

b.Every Month

c.Half Yearly

d.Quarterly

32. While making nomination, signature of nominee is required on

a.Account opening Form

b.Nominaton form

c.None of the above

d.Affidavit

33. As we all know, more and more countries/ organisations are now going for non- cash transactions and accordingly banks have launched many new products in the market for the same. Which of the following products is a non-cash transaction product?

a.Only Credit Card

b.All are non-cash transaction products

c.Only Prepaid Card

d.Only ATM Card

34. Citi-Times card is an example of

a.Smart Cards

b.Debit Cards

c.Prepaid card

d.Co-branded cards

35. For credit cards, the MDR varies between

a.2-2.5 percent

b.2-3 percent

c.1.5-2.5 percent

d.1.5-2 percent

36. Which type of deposits earns higher interest rate?

a.Current account

b.Saving Account

c.Fixed Deposit

d.None of these

37. Real time gross settlement benefits

a.The banks

b.The Customers

c.Reserve Bank of India

d.Both a and b

38. Bank does not provide loans for

a.Education Loans

b.Crop Loan

c.Drinking and Gambling

d.Home loand

39. When we talk of smart money what are we referring to?

a.Credit cards

b.Internet banking

c.Treasury bills

d.Foreign currency

40. 'Smart Money' is a term used for

a.Demand Drafts of banks

b.Internet anking

c.FDRs in Banks

d.Credit Cards

41. o use smart cards/debit cards/credit cards for the purchase of an item or for payment of a service at a merchant's store/ the card has to be swiped in a terminal known as

a.Shopping terminal

b.Point of sale terminal

c.Real time terminal

d.All of the above

42. Indian Financial System Code is used for

a.Centralized Gunds Management System

b.All of the above

c.National Electric Funds Transfer

d.Real Time Gross Settlement

43. Telebanking service is based on

a.Core Banking

b.Online Banking

c.Voice Banking

d.Virtual Banking

44. Which of the following is a leading electronic payment technology firm? (The logo of the firm can be seen printed on credit cards/ ATM centres etc.

a.Visa

b.BSE

c.Sensex

d.Max

45. Bank draft is issued by

a.Regional Rural Banks

b.Public Sector Banks

c.Private Sector Banks

d.All of the above

46. Internet banking refers to

a.Opening of account through ATM

b.Operation of account through internet

c.Both a and B

d.None of the above

47. Which currency note has security

a.Rs 50/-

b.Rs. 500/-

c.Rs. 100/-

d.All of the above

48. Opening of maximum number of ATMs is an example of

a.Direct Marketing

b.Social Marketing

c.All of these

d.Indirect Marketing

49. What is the validity period of the cheque?

a.3 months from date of issue

b.Unlimited

c.1 month from date of issue

d.4 months from date of issue

50. Which of the following types of accounts is/are not applicable for free transactions at ATMs?

a.Both a and b

b.Saving Account

c.Current Account

d.Basic Saving Bank Deposit Accounts

CUET 2026 Banking Apps MCQ Question Answers for Competitive Exams

CUET 2026 MCQ Quiz on Banking Apps – Objective Question Answers on Banking Apps

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