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

a.IMPS

b.RTGS

c.ECS Credit

d.NEFT

2. 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

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

a.Smart Card

b.ATM Card

c.Credit Card

d.Debit Card

4. 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.Placing orders on the phones

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

d.Buying goods and services online from vendors

5. 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

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

a.Clearing loans

b.Both a and b

c.Facilitating interbank electronic transactions

d.Clearing cheques

7. 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

8. Citi-Times card is an example of

a.Co-branded cards

b.Debit Cards

c.Prepaid card

d.Smart Cards

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

a.Giving Credit cards

b.Mobile Banking

c.Set-up ATMs

d.Establishment of Small Branches

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

a.It means trade between business to business

b.All of the above

c.It suggests transactions between banks and capitalists

d.The deals between business to banks

11. 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.Message

b.Mobile

c.Marginal

d.Money

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

a.None of these

b.Credits Cards

c.Both a and B

d.Debiti Cards

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

a.Internet banking

b.Credit cards

c.Treasury bills

d.Foreign currency

14. KYC means

a.Know your customer

b.None of the above

c.Both of the above

d.Know your character

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

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

d.The same, to make paperless payments

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

a.All of the above

b.It is an indication of customized banking services

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

d.It suggests complete banking services

17. 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.All of the above

c.Real time terminal

d.Shopping terminal

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

a.All customers having savings bank

b.A bank customer who is income tax assesee

c.All customers of a bank

d.All customers having loan account with a bank

19. RTGS stands for

a.Real total Gross Securities

b.Real Time Gross Settlements

c.Reduced Time Gross Settlements

d.Relative Time Gross Settlements

20. Which type of deposits earns higher interest rate?

a.Current account

b.Fixed Deposit

c.None of these

d.Saving Account

21. 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

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

a.Brown Label ATMs

b.None of these

c.White Label ATMs

d.Blue Lable ATMs

23. 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. 100

c.Rs. 500

d.Rs. 200

24. 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

25. 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.State Bank of India

c.Bank of India

d.Union Bank of India

26. 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.Credit

d.Core

27. 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.Credit Card

d.Member Card

28. Internet banking refers to

a.None of the above

b.Both a and B

c.Operation of account through internet

d.Opening of account through ATM

29. 'Smart Money' is a term used for

a.Credit Cards

b.FDRs in Banks

c.Internet anking

d.Demand Drafts of banks

30. Telebanking service is based on

a.Virtual Banking

b.Voice Banking

c.Core Banking

d.Online Banking

31. 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

32. Transferring money between banks for international wire transfers uses

a.BIC Codes

b.IFSC Codes

c.MICR Codes

d.SWIFT Codes

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

a.Social Marketing

b.Direct Marketing

c.All of these

d.Indirect Marketing

34. Who can open a bank account?

a.Non Resident Indian

b.Illiterate

c.Indian Citizen

d.All of above

35. Real time gross settlement benefits

a.The banks

b.Both a and b

c.Reserve Bank of India

d.The Customers

36. Block Chain Technology was created by

a.HDFC Bank

b.AXIS Bank

c.ICICI Bank

d.SBI

37. For credit cards, the MDR varies between

a.1.5-2 percent

b.2-3 percent

c.1.5-2.5 percent

d.2-2.5 percent

38. Interest on Savings Bank Deposits is paid

a.Every Month

b.Quarterly

c.Yearly

d.Half Yearly

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.Sensex

b.Visa

c.BSE

d.Max

40. What is the validity period of the cheque?

a.Unlimited

b.4 months from date of issue

c.1 month from date of issue

d.3 months from date of issue

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

a.Affidavit

b.Nominaton form

c.None of the above

d.Account opening Form

42. Bank does not give loan against

a.NSC

b.Gold Ornaments

c.LIC Policy

d.Lottery Ticket

43. Bank draft is issued by

a.Regional Rural Banks

b.All of the above

c.Public Sector Banks

d.Private Sector Banks

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

a.Rupay

b.UOI

c.USSD

d.Bitcoin

45. Bank does not provide loans for

a.Home loand

b.Crop Loan

c.Drinking and Gambling

d.Education Loans

46. ATM password should be kept in

a.Office Diary

b.Personal Diary

c.Memory

d.All of the above

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.Unit Trust of India

b.LIC and GIC

c.Indigenous banks

d.RBI, commercial banks and SBI

48. Which currency note has security

a.All of the above

b.Rs 50/-

c.Rs. 100/-

d.Rs. 500/-

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

a.There is a minimum amount specified for transfer

b.Beneficiary's bank account number

c.All of the above

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

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

a.Saving Account

b.Basic Saving Bank Deposit Accounts

c.Both a and b

d.Current Account

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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