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. Opening of maximum number of ATMs is an example of

a.Direct Marketing

b.Indirect Marketing

c.All of these

d.Social Marketing

2. Bank does not give loan against

a.Lottery Ticket

b.LIC Policy

c.Gold Ornaments

d.NSC

3. 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

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

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

d.The same, to make paperless payments

5. 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.RBI, commercial banks and SBI

b.Unit Trust of India

c.LIC and GIC

d.Indigenous banks

6. 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.BSE

c.Max

d.Visa

7. Telebanking service is based on

a.Voice Banking

b.Online Banking

c.Core Banking

d.Virtual Banking

8. 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.IDRBT

c.SIDBI

d.IBRD

9. Who can open a bank account?

a.Indian Citizen

b.All of above

c.Non Resident Indian

d.Illiterate

10. Citi-Times card is an example of

a.Debit Cards

b.Smart Cards

c.Co-branded cards

d.Prepaid card

11. Interest on Savings Bank Deposits is paid

a.Quarterly

b.Yearly

c.Half Yearly

d.Every Month

12. 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

13. For credit cards, the MDR varies between

a.2-2.5 percent

b.1.5-2 percent

c.1.5-2.5 percent

d.2-3 percent

14. ATM password should be kept in

a.Memory

b.Personal Diary

c.All of the above

d.Office Diary

15. Real time gross settlement benefits

a.Both a and b

b.The banks

c.Reserve Bank of India

d.The Customers

16. 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

17. 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.All are non-cash transaction products

b.Only Credit Card

c.Only ATM Card

d.Only Prepaid Card

18. Indian Financial System Code is used for

a.Real Time Gross Settlement

b.All of the above

c.National Electric Funds Transfer

d.Centralized Gunds Management System

19. 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.Mobile

b.Money

c.Marginal

d.Message

20. 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

21. 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

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

a.Charge Card

b.Member Card

c.Smart Card

d.Credit Card

23. 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.Continous

d.Core

24. Internet banking refers to

a.Opening of account through ATM

b.None of the above

c.Operation of account through internet

d.Both a and B

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

a.Facilitating interbank electronic transactions

b.Both a and b

c.Clearing loans

d.Clearing cheques

26. Which type of deposits earns higher interest rate?

a.Current account

b.Saving Account

c.None of these

d.Fixed Deposit

27. Which currency note has security

a.Rs 50/-

b.Rs. 500/-

c.Rs. 100/-

d.All of the above

28. 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.Giving Credit cards

d.Mobile Banking

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

a.White Label ATMs

b.Blue Lable ATMs

c.Brown Label ATMs

d.None of these

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

a.UOI

b.Bitcoin

c.USSD

d.Rupay

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

a.Nominaton form

b.Account opening Form

c.None of the above

d.Affidavit

32. KYC means

a.Know your character

b.None of the above

c.Both of the above

d.Know your customer

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

a.RTGS

b.NEFT

c.IMPS

d.ECS Credit

34. Transferring money between banks for international wire transfers uses

a.BIC Codes

b.MICR Codes

c.IFSC Codes

d.SWIFT Codes

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

a.bill payment service

b.Real time gross settlement

c.Mobile banking

d.Internet banking

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

a.Both a and B

b.Debiti Cards

c.Credits Cards

d.None of these

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

a.ATM Card

b.Smart Card

c.Debit Card

d.Credit Card

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

a.ECS

b.E pay

c.All of these

d.E-commerce

39. 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

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

a.A bank customer who is income tax assesee

b.All customers having savings bank

c.All customers having loan account with a bank

d.All customers of a bank

41. RTGS stands for

a.Real total Gross Securities

b.Reduced Time Gross Settlements

c.Relative Time Gross Settlements

d.Real Time Gross Settlements

42. 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 suggests complete banking services

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

43. 'Smart Money' is a term used for

a.Internet anking

b.Credit Cards

c.FDRs in Banks

d.Demand Drafts of banks

44. Block Chain Technology was created by

a.SBI

b.HDFC Bank

c.ICICI Bank

d.AXIS Bank

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

a.Credit cards

b.Foreign currency

c.Internet banking

d.Treasury bills

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

a.Yes

b.Only in case of joint account

c.No

d.Only in case he is head of famliy

47. Bank draft is issued by

a.All of the above

b.Private Sector Banks

c.Regional Rural Banks

d.Public Sector Banks

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

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

b.There is a minimum amount specified for transfer

c.All of the above

d.Beneficiary's bank account number

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

a.The deals between business to banks

b.All of the above

c.It suggests transactions between banks and capitalists

d.It means trade between business to business

50. Bank does not provide loans for

a.Drinking and Gambling

b.Education Loans

c.Crop Loan

d.Home loand

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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