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. ATM password should be kept in

a.All of the above

b.Memory

c.Personal Diary

d.Office Diary

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

a.Placing orders on the phones

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

c.Buying goods and services online from vendors

d.Getting 30 days credit period for payment

3. Bank does not give loan against

a.NSC

b.Gold Ornaments

c.LIC Policy

d.Lottery Ticket

4. 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, to make paperless payments

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

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

a.Smart Card

b.Member Card

c.Credit Card

d.Charge Card

6. 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.Money

c.Mobile

d.Message

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

a.Foreign currency

b.Credit cards

c.Internet banking

d.Treasury bills

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

a.All of these

b.ECS

c.E-commerce

d.E pay

9. Transferring money between banks for international wire transfers uses

a.IFSC Codes

b.SWIFT Codes

c.BIC Codes

d.MICR Codes

10. 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.Core

c.Credit

d.Complete

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

a.Debit Card

b.Smart Card

c.ATM Card

d.Credit Card

12. Which currency note has security

a.Rs. 100/-

b.Rs. 500/-

c.Rs 50/-

d.All of the above

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

a.Bitcoin

b.UOI

c.Rupay

d.USSD

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

a.Social Marketing

b.Indirect Marketing

c.Direct Marketing

d.All of these

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. Can an illiterate person be issued a debit card?

a.No

b.Only in case he is head of famliy

c.Yes

d.Only in case of joint account

17. RTGS stands for

a.Relative Time Gross Settlements

b.Reduced Time Gross Settlements

c.Real Time Gross Settlements

d.Real total Gross Securities

18. 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 ATM Card

b.Only Prepaid Card

c.Only Credit Card

d.All are non-cash transaction products

19. Internet banking refers to

a.Opening of account through ATM

b.Both a and B

c.Operation of account through internet

d.None of the above

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

a.IMPS

b.RTGS

c.NEFT

d.ECS Credit

21. KYC means

a.Know your character

b.Both of the above

c.None of the above

d.Know your customer

22. Who can open a bank account?

a.All of above

b.Illiterate

c.Non Resident Indian

d.Indian Citizen

23. 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.Max

b.Visa

c.BSE

d.Sensex

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

a.All of the above

b.It suggests transactions between banks and capitalists

c.It means trade between business to business

d.The deals between business to banks

25. Which type of deposits earns higher interest rate?

a.None of these

b.Current account

c.Fixed Deposit

d.Saving Account

26. Telebanking service is based on

a.Online Banking

b.Virtual Banking

c.Voice Banking

d.Core Banking

27. What is the validity period of the cheque?

a.4 months from date of issue

b.3 months from date of issue

c.1 month from date of issue

d.Unlimited

28. Block Chain Technology was created by

a.AXIS Bank

b.SBI

c.ICICI Bank

d.HDFC Bank

29. Real time gross settlement benefits

a.The banks

b.Reserve Bank of India

c.Both a and b

d.The Customers

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

a.It suggests complete banking services

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

c.It is an indication of customized banking services

d.All of the above

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

a.Both a and b

b.Facilitating interbank electronic transactions

c.Clearing loans

d.Clearing cheques

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

a.Internet banking

b.Real time gross settlement

c.bill payment service

d.Mobile banking

33. 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

34. 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. 300

b.Rs. 200

c.Rs. 100

d.Rs. 500

35. Bank draft is issued by

a.Private Sector Banks

b.Regional Rural Banks

c.All of the above

d.Public Sector Banks

36. 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.A bank customer who is income tax assesee

d.All customers of a bank

37. 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.Real time terminal

b.Point of sale terminal

c.All of the above

d.Shopping terminal

38. For credit cards, the MDR varies between

a.2-2.5 percent

b.2-3 percent

c.1.5-2 percent

d.1.5-2.5 percent

39. Bank does not provide loans for

a.Crop Loan

b.Home loand

c.Drinking and Gambling

d.Education Loans

40. 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.Bank of Baroda

b.Union Bank of India

c.Bank of India

d.State Bank of India

41. 'Smart Money' is a term used for

a.Credit Cards

b.Demand Drafts of banks

c.FDRs in Banks

d.Internet anking

42. 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.IDRBT

b.SBI

c.IBRD

d.SIDBI

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

a.Both a and B

b.Credits Cards

c.Debiti Cards

d.None of these

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

a.Account opening Form

b.Nominaton form

c.None of the above

d.Affidavit

45. Indian Financial System Code is used for

a.National Electric Funds Transfer

b.Real Time Gross Settlement

c.All of the above

d.Centralized Gunds Management System

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

a.Mobile Banking

b.Giving Credit cards

c.Establishment of Small Branches

d.Set-up ATMs

47. 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.Unit Trust of India

d.LIC and GIC

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

a.There is a minimum amount specified for transfer

b.All of the above

c.Beneficiary's bank account number

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

49. Citi-Times card is an example of

a.Prepaid card

b.Debit Cards

c.Smart Cards

d.Co-branded cards

50. Interest on Savings Bank Deposits is paid

a.Half Yearly

b.Every Month

c.Quarterly

d.Yearly

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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