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

Please wait...

1. 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.Indigenous banks

c.LIC and GIC

d.RBI, commercial banks and SBI

2. Bank does not give loan against

a.Gold Ornaments

b.Lottery Ticket

c.LIC Policy

d.NSC

3. 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. 100

c.Rs. 300

d.Rs. 500

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

a.It is an indication of customized banking services

b.It suggests complete banking services

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

d.All of the above

5. Interest on Savings Bank Deposits is paid

a.Every Month

b.Half Yearly

c.Yearly

d.Quarterly

6. 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.Placing orders on the phones

d.Buying goods and services online from vendors

7. Real time gross settlement benefits

a.Both a and b

b.The banks

c.The Customers

d.Reserve Bank of India

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

d.All of the above

9. Bank draft is issued by

a.Public Sector Banks

b.All of the above

c.Regional Rural Banks

d.Private Sector Banks

10. For credit cards, the MDR varies between

a.1.5-2.5 percent

b.2-2.5 percent

c.2-3 percent

d.1.5-2 percent

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

a.NEFT

b.ECS Credit

c.RTGS

d.IMPS

12. Internet banking refers to

a.Opening of account through ATM

b.Operation of account through internet

c.None of the above

d.Both a and B

13. 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.IDRBT

c.SBI

d.IBRD

14. What is the validity period of the cheque?

a.3 months from date of issue

b.4 months from date of issue

c.1 month from date of issue

d.Unlimited

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

a.All customers of a bank

b.A bank customer who is income tax assesee

c.All customers having savings bank

d.All customers having loan account with a bank

16. KYC means

a.Know your character

b.Both of the above

c.Know your customer

d.None of the above

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

a.Debiti Cards

b.None of these

c.Credits Cards

d.Both a and B

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

a.USSD

b.UOI

c.Rupay

d.Bitcoin

19. 'Smart Money' is a term used for

a.Credit Cards

b.FDRs in Banks

c.Demand Drafts of banks

d.Internet anking

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.Real time terminal

b.Shopping terminal

c.All of the above

d.Point of sale terminal

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

a.Treasury bills

b.Foreign currency

c.Credit cards

d.Internet banking

22. 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

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.All are non-cash transaction products

d.Only Credit Card

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

a.Only in case he is head of famliy

b.Only in case of joint account

c.No

d.Yes

25. 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

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

a.It suggests transactions between banks and capitalists

b.The deals between business to banks

c.It means trade between business to business

d.All of the above

27. 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

28. ATM password should be kept in

a.Office Diary

b.Memory

c.All of the above

d.Personal Diary

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

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

30. Telebanking service is based on

a.Core Banking

b.Voice Banking

c.Online Banking

d.Virtual Banking

31. 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.Core

c.Complete

d.Credit

32. Bank does not provide loans for

a.Home loand

b.Crop Loan

c.Education Loans

d.Drinking and Gambling

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

a.All of these

b.Social Marketing

c.Indirect Marketing

d.Direct Marketing

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

a.Account opening Form

b.Affidavit

c.Nominaton form

d.None of the above

35. 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

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

a.Clearing loans

b.Facilitating interbank electronic transactions

c.Both a and b

d.Clearing cheques

37. RTGS stands for

a.Real Time Gross Settlements

b.Relative Time Gross Settlements

c.Real total Gross Securities

d.Reduced Time Gross Settlements

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

a.All of these

b.E-commerce

c.E pay

d.ECS

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

a.Credit Card

b.ATM Card

c.Debit Card

d.Smart Card

40. 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.State Bank of India

b.Bank of India

c.Union Bank of India

d.Bank of Baroda

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

a.Credit Card

b.Charge Card

c.Smart Card

d.Member Card

42. Who can open a bank account?

a.Illiterate

b.Non Resident Indian

c.Indian Citizen

d.All of above

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

a.Mobile Banking

b.Giving Credit cards

c.Establishment of Small Branches

d.Set-up ATMs

44. Which type of deposits earns higher interest rate?

a.None of these

b.Saving Account

c.Current account

d.Fixed Deposit

45. Citi-Times card is an example of

a.Prepaid card

b.Debit Cards

c.Smart Cards

d.Co-branded cards

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

a.Real time gross settlement

b.bill payment service

c.Internet banking

d.Mobile banking

47. Which currency note has security

a.Rs. 500/-

b.Rs 50/-

c.All of the above

d.Rs. 100/-

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

a.Blue Lable ATMs

b.None of these

c.Brown Label ATMs

d.White Label ATMs

49. Block Chain Technology was created by

a.ICICI Bank

b.AXIS Bank

c.SBI

d.HDFC Bank

50. Transferring money between banks for international wire transfers uses

a.SWIFT Codes

b.MICR Codes

c.IFSC Codes

d.BIC Codes

CUET 2026 Banking Apps MCQ Question Answers for Competitive Exams

CUET 2026 MCQ Quiz on Banking Apps – Objective Question Answers on Banking Apps

Submit a Comment Cancel reply

General

CBSE School Lessons

Popular Pages