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

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1. For credit cards, the MDR varies between

a.1.5-2 percent

b.2-3 percent

c.2-2.5 percent

d.1.5-2.5 percent

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

a.All customers having loan account with a bank

b.A bank customer who is income tax assesee

c.All customers having savings bank

d.All customers of a bank

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

a.Blue Lable ATMs

b.White Label ATMs

c.None of these

d.Brown Label ATMs

4. KYC means

a.Both of the above

b.Know your customer

c.Know your character

d.None of the above

5. Bank does not provide loans for

a.Home loand

b.Crop Loan

c.Education Loans

d.Drinking and Gambling

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

a.Only in case of joint account

b.Only in case he is head of famliy

c.No

d.Yes

7. ATM password should be kept in

a.All of the above

b.Office Diary

c.Memory

d.Personal Diary

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

a.All of these

b.E pay

c.E-commerce

d.ECS

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

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

b.The same, to make paperless payments

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

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

10. 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

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

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

b.Placing orders on the phones

c.Getting 30 days credit period for payment

d.Buying goods and services online from vendors

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

a.ECS Credit

b.IMPS

c.RTGS

d.NEFT

13. Real time gross settlement benefits

a.The Customers

b.The banks

c.Both a and b

d.Reserve Bank of India

14. 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

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

a.Mobile Banking

b.Set-up ATMs

c.Giving Credit cards

d.Establishment of Small Branches

16. Who can open a bank account?

a.Non Resident Indian

b.All of above

c.Illiterate

d.Indian Citizen

17. 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

18. 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

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

a.Direct Marketing

b.Indirect Marketing

c.All of these

d.Social Marketing

20. Internet banking refers to

a.None of the above

b.Opening of account through ATM

c.Operation of account through internet

d.Both a and B

21. 'Smart Money' is a term used for

a.FDRs in Banks

b.Internet anking

c.Demand Drafts of banks

d.Credit Cards

22. Bank draft is issued by

a.All of the above

b.Private Sector Banks

c.Public Sector Banks

d.Regional Rural Banks

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

a.USSD

b.Bitcoin

c.Rupay

d.UOI

24. Interest on Savings Bank Deposits is paid

a.Every Month

b.Yearly

c.Quarterly

d.Half Yearly

25. Telebanking service is based on

a.Online Banking

b.Virtual Banking

c.Voice Banking

d.Core Banking

26. 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.State Bank of India

d.Bank of India

27. 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.Credit

c.Core

d.Complete

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

a.Both a and b

b.Current Account

c.Basic Saving Bank Deposit Accounts

d.Saving Account

29. 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

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

a.Both a and b

b.Clearing cheques

c.Facilitating interbank electronic transactions

d.Clearing loans

31. 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.Marginal

d.Mobile

32. 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.SBI

c.IDRBT

d.IBRD

33. 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

34. Block Chain Technology was created by

a.ICICI Bank

b.SBI

c.AXIS Bank

d.HDFC Bank

35. Transferring money between banks for international wire transfers uses

a.IFSC Codes

b.SWIFT Codes

c.MICR Codes

d.BIC Codes

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

a.None of the above

b.Account opening Form

c.Nominaton form

d.Affidavit

37. Bank does not give loan against

a.Gold Ornaments

b.NSC

c.LIC Policy

d.Lottery Ticket

38. Which type of deposits earns higher interest rate?

a.Fixed Deposit

b.Saving Account

c.Current account

d.None of these

39. 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 Credit Card

b.All are non-cash transaction products

c.Only Prepaid Card

d.Only ATM Card

40. Which currency note has security

a.Rs. 100/-

b.Rs 50/-

c.All of the above

d.Rs. 500/-

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

a.Credits Cards

b.Both a and B

c.None of these

d.Debiti Cards

42. RTGS stands for

a.Real Time Gross Settlements

b.Reduced Time Gross Settlements

c.Real total Gross Securities

d.Relative Time Gross Settlements

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

a.Foreign currency

b.Internet banking

c.Credit cards

d.Treasury bills

44. Citi-Times card is an example of

a.Co-branded cards

b.Smart Cards

c.Debit Cards

d.Prepaid card

45. 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.Shopping terminal

c.Real time terminal

d.All of the above

46. 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

47. 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.Sensex

c.Visa

d.BSE

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

a.Debit Card

b.Credit Card

c.Smart Card

d.ATM Card

49. 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.LIC and GIC

d.Unit Trust of India

50. What is the validity period of the cheque?

a.1 month from date of issue

b.3 months from date of issue

c.4 months from date of issue

d.Unlimited

CUET 2025 Banking Apps MCQ Question Answers for Competitive Exams

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

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