CUET 2025 MCQ Quiz on Banking Apps

CUET 2025 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

Please wait...

1. 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.Complete

b.Credit

c.Core

d.Continous

2. KYC means

a.None of the above

b.Know your character

c.Both of the above

d.Know your customer

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

a.Current Account

b.Basic Saving Bank Deposit Accounts

c.Both a and b

d.Saving Account

4. Bank does not provide loans for

a.Crop Loan

b.Home loand

c.Education Loans

d.Drinking and Gambling

5. For credit cards, the MDR varies between

a.2-3 percent

b.1.5-2 percent

c.2-2.5 percent

d.1.5-2.5 percent

6. 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

7. 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

8. Which currency note has security

a.Rs. 100/-

b.All of the above

c.Rs 50/-

d.Rs. 500/-

9. What is the validity period of the cheque?

a.Unlimited

b.1 month from date of issue

c.4 months from date of issue

d.3 months from date of issue

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

a.It suggests transactions between banks and capitalists

b.All of the above

c.The deals between business to banks

d.It means trade between business to business

11. Who can open a bank account?

a.Non Resident Indian

b.Indian Citizen

c.All of above

d.Illiterate

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

a.All of these

b.Direct Marketing

c.Social Marketing

d.Indirect Marketing

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

a.Facilitating interbank electronic transactions

b.Clearing loans

c.Both a and b

d.Clearing cheques

14. 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.Money

b.Message

c.Mobile

d.Marginal

15. Interest on Savings Bank Deposits is paid

a.Yearly

b.Every Month

c.Half Yearly

d.Quarterly

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

a.Set-up ATMs

b.Establishment of Small Branches

c.Mobile Banking

d.Giving Credit cards

17. Transferring money between banks for international wire transfers uses

a.BIC Codes

b.MICR Codes

c.IFSC Codes

d.SWIFT Codes

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

a.Internet banking

b.Mobile banking

c.Real time gross settlement

d.bill payment service

19. Bank draft is issued by

a.All of the above

b.Private Sector Banks

c.Regional Rural Banks

d.Public Sector Banks

20. 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

21. ATM password should be kept in

a.Memory

b.Personal Diary

c.All of the above

d.Office Diary

22. Real time gross settlement benefits

a.The Customers

b.Both a and b

c.The banks

d.Reserve Bank of India

23. Indian Financial System Code is used for

a.Real Time Gross Settlement

b.Centralized Gunds Management System

c.National Electric Funds Transfer

d.All of the above

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

a.Debiti Cards

b.None of these

c.Both a and B

d.Credits Cards

25. 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 Prepaid Card

b.Only Credit Card

c.Only ATM Card

d.All are non-cash transaction products

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

a.Yes

b.No

c.Only in case he is head of famliy

d.Only in case of joint account

27. 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.Point of sale terminal

b.Real time terminal

c.Shopping terminal

d.All of the above

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

a.Bitcoin

b.USSD

c.Rupay

d.UOI

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

a.Beneficiary's bank account number

b.There is a minimum amount specified for transfer

c.All of the above

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

30. 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

31. Block Chain Technology was created by

a.SBI

b.AXIS Bank

c.HDFC Bank

d.ICICI Bank

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

a.All customers having savings bank

b.All customers having loan account with a bank

c.A bank customer who is income tax assesee

d.All customers of a bank

33. Which type of deposits earns higher interest rate?

a.None of these

b.Current account

c.Saving Account

d.Fixed Deposit

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

a.E pay

b.All of these

c.E-commerce

d.ECS

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

a.The same, to make paperless payments

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

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

a.None of these

b.Blue Lable ATMs

c.Brown Label ATMs

d.White Label ATMs

37. 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.SIDBI

b.IBRD

c.SBI

d.IDRBT

38. RTGS stands for

a.Real total Gross Securities

b.Relative Time Gross Settlements

c.Reduced Time Gross Settlements

d.Real Time Gross Settlements

39. 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.LIC and GIC

b.Indigenous banks

c.Unit Trust of India

d.RBI, commercial banks and SBI

40. 'Smart Money' is a term used for

a.Internet anking

b.Demand Drafts of banks

c.Credit Cards

d.FDRs in Banks

41. Citi-Times card is an example of

a.Smart Cards

b.Co-branded cards

c.Debit Cards

d.Prepaid card

42. 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.Charge Card

d.Member Card

43. 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

44. Internet banking refers to

a.Operation of account through internet

b.Opening of account through ATM

c.None of the above

d.Both a and B

45. Bank does not give loan against

a.Lottery Ticket

b.Gold Ornaments

c.LIC Policy

d.NSC

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

a.Nominaton form

b.Affidavit

c.Account opening Form

d.None of the above

47. 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.Bank of Baroda

d.Union Bank of India

48. Telebanking service is based on

a.Online Banking

b.Voice Banking

c.Virtual Banking

d.Core Banking

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

a.Foreign currency

b.Internet banking

c.Credit cards

d.Treasury bills

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

a.NEFT

b.RTGS

c.ECS Credit

d.IMPS

CUET 2025 Banking Apps MCQ Question Answers for Competitive Exams

CUET 2025 MCQ Quiz on Banking Apps – Objective Question Answers on Banking Apps

Submit a Comment Cancel reply

General

CBSE School Lessons

Popular Pages