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

a.Both a and B

b.None of these

c.Credits Cards

d.Debiti Cards

2. Which type of deposits earns higher interest rate?

a.Saving Account

b.Fixed Deposit

c.None of these

d.Current account

3. 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

4. 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. 200

b.Rs. 300

c.Rs. 500

d.Rs. 100

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

a.Basic Saving Bank Deposit Accounts

b.Saving Account

c.Both a and b

d.Current Account

6. KYC means

a.Know your customer

b.Know your character

c.None of the above

d.Both of the above

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

a.Credit Card

b.ATM Card

c.Smart Card

d.Debit Card

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

a.Internet banking

b.bill payment service

c.Mobile banking

d.Real time gross settlement

9. Bank does not provide loans for

a.Drinking and Gambling

b.Education Loans

c.Home loand

d.Crop Loan

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

a.None of these

b.Brown Label ATMs

c.Blue Lable ATMs

d.White Label ATMs

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

a.Getting 30 days credit period for payment

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

c.Buying goods and services online from vendors

d.Placing orders on the phones

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

a.Only in case of joint account

b.No

c.Yes

d.Only in case he is head of famliy

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

a.Rupay

b.USSD

c.Bitcoin

d.UOI

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

a.Charge Card

b.Smart Card

c.Member Card

d.Credit Card

15. ATM password should be kept in

a.Memory

b.Office Diary

c.Personal Diary

d.All of the above

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

a.All customers of a bank

b.All customers having savings bank

c.A bank customer who is income tax assesee

d.All customers having loan account with a bank

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

a.Establishment of Small Branches

b.Mobile Banking

c.Giving Credit cards

d.Set-up ATMs

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

a.All of the above

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

c.It is an indication of customized banking services

d.It suggests complete banking services

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

d.Beneficiary's bank account number

20. 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.SIDBI

d.IBRD

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

a.It suggests transactions between banks and capitalists

b.It means trade between business to business

c.All of the above

d.The deals between business to banks

22. Telebanking service is based on

a.Online Banking

b.Core Banking

c.Voice Banking

d.Virtual Banking

23. 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

24. Which currency note has security

a.Rs. 500/-

b.All of the above

c.Rs. 100/-

d.Rs 50/-

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

a.Affidavit

b.Account opening Form

c.Nominaton form

d.None of the above

26. 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.All of the above

b.Point of sale terminal

c.Shopping terminal

d.Real time terminal

27. Citi-Times card is an example of

a.Smart Cards

b.Debit Cards

c.Co-branded cards

d.Prepaid card

28. Who can open a bank account?

a.Indian Citizen

b.Illiterate

c.All of above

d.Non Resident Indian

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

a.E-commerce

b.All of these

c.ECS

d.E pay

30. Indian Financial System Code is used for

a.Centralized Gunds Management System

b.All of the above

c.Real Time Gross Settlement

d.National Electric Funds Transfer

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

a.Clearing cheques

b.Facilitating interbank electronic transactions

c.Both a and b

d.Clearing loans

32. Block Chain Technology was created by

a.ICICI Bank

b.SBI

c.HDFC Bank

d.AXIS Bank

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

a.Credit cards

b.Foreign currency

c.Treasury bills

d.Internet banking

34. 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.RBI, commercial banks and SBI

c.Indigenous banks

d.Unit Trust of India

35. Interest on Savings Bank Deposits is paid

a.Yearly

b.Quarterly

c.Half Yearly

d.Every Month

36. Internet banking refers to

a.Both a and B

b.Opening of account through ATM

c.None of the above

d.Operation of account through internet

37. 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.Continous

c.Core

d.Credit

38. RTGS stands for

a.Real Time Gross Settlements

b.Real total Gross Securities

c.Relative Time Gross Settlements

d.Reduced Time Gross Settlements

39. 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.BSE

b.Max

c.Sensex

d.Visa

40. 'Smart Money' is a term used for

a.Internet anking

b.Credit Cards

c.FDRs in Banks

d.Demand Drafts of banks

41. For credit cards, the MDR varies between

a.2-3 percent

b.1.5-2 percent

c.1.5-2.5 percent

d.2-2.5 percent

42. Real time gross settlement benefits

a.The Customers

b.The banks

c.Both a and b

d.Reserve Bank of India

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

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

b.The same, to make paperless payments

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

44. Transferring money between banks for international wire transfers uses

a.IFSC Codes

b.MICR Codes

c.SWIFT Codes

d.BIC Codes

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

a.All of these

b.Social Marketing

c.Direct Marketing

d.Indirect Marketing

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

a.NEFT

b.ECS Credit

c.IMPS

d.RTGS

47. 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

48. 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.Union Bank of India

b.State Bank of India

c.Bank of India

d.Bank of Baroda

49. Bank does not give loan against

a.NSC

b.Lottery Ticket

c.LIC Policy

d.Gold Ornaments

50. Bank draft is issued by

a.Regional Rural Banks

b.All of the above

c.Public Sector Banks

d.Private Sector Banks

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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