CUET 2023 MCQ Quiz on Banking Apps

CUET 2023 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

1. What is the validity period of the cheque?

a.1 month from date of issue

b.4 months from date of issue

c.Unlimited

d.3 months from date of issue

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

a.All customers of a bank

b.All customers having savings bank

c.All customers having loan account with a bank

d.A bank customer who is income tax assesee

3. 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.Bank of India

d.State Bank of India

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

a.Debit Card

b.Credit Card

c.ATM Card

d.Smart Card

5. 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.Core

c.Credit

d.Continous

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

a.Bitcoin

b.USSD

c.UOI

d.Rupay

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

a.It suggests transactions between banks and capitalists

b.The deals between business to banks

c.All of the above

d.It means trade between business to business

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

a.Beneficiary's bank account number

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

c.There is a minimum amount specified for transfer

d.All of the above

9. 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.IBRD

b.SBI

c.IDRBT

d.SIDBI

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

a.Yes

b.Only in case he is head of famliy

c.Only in case of joint account

d.No

11. ATM password should be kept in

a.Personal Diary

b.Office Diary

c.All of the above

d.Memory

12. Transferring money between banks for international wire transfers uses

a.BIC Codes

b.SWIFT Codes

c.MICR Codes

d.IFSC Codes

13. KYC means

a.None of the above

b.Know your character

c.Know your customer

d.Both of the above

14. 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

15. 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.Sensex

c.Max

d.BSE

16. 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.Getting 30 days credit period for payment

c.Buying goods and services online from vendors

d.Placing orders on the phones

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

a.Credit cards

b.Internet banking

c.Treasury bills

d.Foreign currency

18. Which type of deposits earns higher interest rate?

a.Fixed Deposit

b.Saving Account

c.None of these

d.Current account

19. Who can open a bank account?

a.Indian Citizen

b.Non Resident Indian

c.All of above

d.Illiterate

20. Block Chain Technology was created by

a.AXIS Bank

b.HDFC Bank

c.SBI

d.ICICI Bank

21. 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. 500

c.Rs. 300

d.Rs. 100

22. 'Smart Money' is a term used for

a.Demand Drafts of banks

b.FDRs in Banks

c.Credit Cards

d.Internet anking

23. 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

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

a.IMPS

b.ECS Credit

c.NEFT

d.RTGS

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

a.Mobile banking

b.Real time gross settlement

c.bill payment service

d.Internet banking

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

a.Basic Saving Bank Deposit Accounts

b.Both a and b

c.Current Account

d.Saving Account

27. Internet banking refers to

a.None of the above

b.Both a and B

c.Opening of account through ATM

d.Operation of account through internet

28. Interest on Savings Bank Deposits is paid

a.Quarterly

b.Yearly

c.Half Yearly

d.Every Month

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

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

b.It suggests complete banking services

c.It is an indication of customized banking services

d.All of the above

30. 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 Prepaid Card

c.Only ATM Card

d.Only Credit Card

31. Telebanking service is based on

a.Voice Banking

b.Virtual Banking

c.Core Banking

d.Online Banking

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

a.Clearing cheques

b.Facilitating interbank electronic transactions

c.Clearing loans

d.Both a and b

33. Bank does not provide loans for

a.Education Loans

b.Home loand

c.Crop Loan

d.Drinking and Gambling

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

a.Direct Marketing

b.Indirect Marketing

c.All of these

d.Social Marketing

35. Bank draft is issued by

a.Regional Rural Banks

b.Private Sector Banks

c.Public Sector Banks

d.All of the above

36. RTGS stands for

a.Relative Time Gross Settlements

b.Real Time Gross Settlements

c.Reduced Time Gross Settlements

d.Real total Gross Securities

37. Real time gross settlement benefits

a.Both a and b

b.The banks

c.The Customers

d.Reserve Bank of India

38. 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

39. 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

40. Which currency note has security

a.Rs 50/-

b.Rs. 100/-

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.None of these

b.Both a and B

c.Debiti Cards

d.Credits Cards

42. Citi-Times card is an example of

a.Co-branded cards

b.Smart Cards

c.Prepaid card

d.Debit Cards

43. 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

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

a.E-commerce

b.E pay

c.ECS

d.All of these

45. Indian Financial System Code is used for

a.Real Time Gross Settlement

b.Centralized Gunds Management System

c.All of the above

d.National Electric Funds Transfer

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. Bank does not give loan against

a.NSC

b.Gold Ornaments

c.Lottery Ticket

d.LIC Policy

48. 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.RBI, commercial banks and SBI

c.Indigenous banks

d.LIC and GIC

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

a.Blue Lable ATMs

b.White Label ATMs

c.Brown Label ATMs

d.None of these

50. 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

CUET 2023 Banking Apps MCQ Question Answers for Competitive Exams

CUET 2023 MCQ Quiz on Banking Apps – Objective Question Answers on Banking Apps

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