BANKING LATEST TRENDS - MCQ

1. Which card issued by the bank does not enjoy a credit facility?
(a) Debit card
(b) Cash credit
(c) Credit card
(d) Kisan card
2. The full form of ATM is:
(a) Automated teller Machine
(b) Automatic teller Machine
(c) All India teller Machine
(d) Automatic Toll Machinery
3. A trader wants to make an electronic transfer of funds through NEFT. He
does not have a bank account. What is the maximum amount he can
transfer?
(a) 55,000
(b) 50,000
(c) 45,000
(d) 48,000
4. A bank informs its account holders regarding any transaction which has
taken place from their account through:
(a) An SMS
(b) A CBS
(c) KYC
(d) ATM

5.The financial instrument issued by the bank for remitting money

and which cannot be dishonoured is a:
(a) Bank draft
(b) Bank overdraft
(c) Cheque
(d) Debit card
 5. The most appropriate statement with reference to the electronic
fund transfer through NEFT is:
a. The fund transfer in NEFT takes place on real time, without
any waiting period.
b.The fund transfer in NEFT takes place in batches.
c.The NEFT transfer takes place from one person to another.
d.The NEFT transfer takes place on gross settlement basis.

6.What is the full form of CBS

a) Core banking solution
b) Core banking software
c) Core banking system
d) Core banking service

7. Minimum transaction value in the case of RTGS is

a) ₹ 50,000
b) ₹ 1,00,000
c) ₹ 1,50,000
d) ₹ 2,00,000
8.What is the minimum amount that can be transfer through NEFT when one
has a bank account?
(a) ₹ 49,999 (b) ₹ 2,00,00
(c) No minimum value (d) ₹ 50,000

9. RTGS is available in
a. All banks
b. CBS enabled banks
c. Only in nationalised banks
d. Only in private banks

10.The full form of IMPS is:

(a) Inter-bank Money Payment Service
(b) Immediate Payment Service
(c) Immediate Monetory Processing System
(d) Instant Money Processing System

11.What does I stands for in IMPS?

a) Instant
b) Inter
c) Interface
d) Immediate
12.Core banking is a branch computerization model.
a) decentralized
b) centralized.
c) unified
d) ATM

13.Under which recent system of bank a customer becomes ‘ customer of bank’

rather than customer of a branch.
a. CBS
b. KYC
c. ATM
d. VIRTUAL BANKING

14.The most appropriate full form of NEFT is:

a. NEW ELECTRONIC FIND TRANSPORT
b. NOW ENTER FUND TRANSFER
c. NATIONAL ELECTRONIC FUND TRANSFER
d. National Economic Fund Transfer

15.What does G stand for in RTGS.

a) Gross
b) Guidelines
c) Government
d) General

16.What is the full form of CBS

a) Core banking solution
b) Core banking software
c) Core banking system
d) Core banking service

17. Which statement is NOT True in regard to debit card

a) A card holder does not get credit facility
b) The cardholder has to pay some charge for the card
c) The cardholder must enjoy good reputation
d) Cardholder may get some incentives as discount

18. NEFT means?

a. National Electronic Fund Transfer
b. Negotiable Efficient Fund Transfer
c. National Efficient Fund Transfer Solution
d. Non-Effective Fund transfer System

19. NEFT and RTGS in banking terminology speak of:

a. Various deposit products
b. Various loan products
c. Electronic payment products within a bank
d. Electronic fund transfer from Bank to Bank

20.What is the full form of EFT?

a) Electronic Funds Transfer
b) Efficient Funds Transfer
c) Effective Funds Transfer
d) Electronic Foreign Transfer

21. MMID
a. Mobile Monetory Identity
b. Mobile Money Identifier
c. Mobile Message Identifier
22.How many digits are there in MMID?
(a) 11 (b) 7
(c) 4 (d) 6

23. RTGS is available in

a. All banks
b. CBS enabled banks
c. Only in nationalised banks
d. Only in private banks

24. IMPS is an instant money transfer service facilitated by

a. NCPI
b. NTPC
c. ONCG
d. NPCI ( National Payment Corporation of India)

24. To avail IMPS service, one has to generate

a. IFSC code
b. MMID code
c. Pin code
d. None of the above

25.The ATM pin is ______ digit code number used for authentication and
authorising the use of the ATM facility by a customer.

a. Four
b. Five
c. Seven
d. Three

26.KYC means
(a) Know your card
(b) Know your cost
(c) Know your customer
(d) Know your creditor

27.PIN stands for:

a) Portable Identification Number
b) Permanent Identification Number
c) Personal Identification Number
d) None of The Above