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50+ Technology in Banking Solved MCQs

in Banking and Finance

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Chapter: Technology in Banking
1.

EFT stands for……..

A. Electronic Fund Transmission
B. Electronic Fund Transfer
C. Electronic Feature Transfer
D. None of these
Answer» B. Electronic Fund Transfer
discuss
2.

Which bank was introduced first ATM machine in India?

A. RBI
B. HSBC
C. PNB
D. ICICI bank
Answer» B. HSBC
discuss
3.

CDM refers to ………….

A. Cash Deposit Machine
B. Credit Development Method
C. Cash Development Method
D. Cash Development Machine
Answer» A. Cash Deposit Machine
discuss
4.

ECS refers to ……………

A. Easy Cash Service
B. Electronic Clearing Service
C. Electronic cash service
D. Easy Clearing Service
Answer» B. Electronic Clearing Service
discuss
5.

NEFT refers to…………...

A. National Economic Fund Transfer
B. National Economic Fund Transfer
C. National Electronic Fee Transfer
D. none of these
Answer» D. none of these
discuss
6.

IFSC stands for …………..

A. Indian Financial System Code
B. International Financial System Code
C. Indian Fund Service Code
D. None of these
Answer» A. Indian Financial System Code
discuss
7.

RTGS stands for ……………

A. Real Time Gross Settlement
B. Real Term Gross Settlement
C. Real Time Goal Settlement
D. Real Term Goal Settlement
Answer» A. Real Time Gross Settlement
discuss
8.

SWIFT stands for ……………..

A. Society for Worldwide Internet Financial Telecommunications
B. Solution for Worldwide Interbank Financial Telecommunications
C. Society for Worldwide Internet Financial Telecommunications
D. Solution for Worldwide Interbank Financial Telecommunications
Answer» D. Solution for Worldwide Interbank Financial Telecommunications
discuss
9.

CBS stands for ……..

A. Code Banking Solutions
B. Core Banking Solutions
C. common Banking Solutions
D. Credit Banking Solutions
Answer» B. Core Banking Solutions
discuss
10.

CTS refers to ………..

A. Cheque Truncation System
B. Cheque Transaction System
C. Cheque Truncation Solution
D. Cheque Transaction Solution
Answer» A. Cheque Truncation System
discuss
11.

Credit Information Bureau India Limited is India’s first credit rating agency which was incorporated in the year……

A. 1988
B. 2000
C. 2005
D. 1995
Answer» B. 2000
discuss
12.

KYC refers to………….

A. Know Your Customer
B. Know Your Credit
C. Know Your City
D. Know Your Company
Answer» A. Know Your Customer
discuss
13.

A cheque bears a date earlier than the date on which it is presented to the bank it is called ………………

A. post-dated cheque
B. ante- dated cheque
C. outstation cheque
D. local cheque
Answer» B. ante- dated cheque
discuss
14.

MICR refers to………………..

A. Magnetic Ink Character Recognition
B. Magnetic Information Character Recognition
C. Magnetic Ink Code Recognition
D. Magnetic Icon Character recognition
Answer» A. Magnetic Ink Character Recognition
discuss
15.

Delivery of banks service to a customer at his office or home by using electronic technology is called ----

A. ATM
B. EFT
C. E-Banking
D. None of these
Answer» C. E-Banking
discuss
16.

The amount is instantly credited to the account of the customer in -----

A. ATM
B. EFT
C. CDM
D. None of these
Answer» C. CDM
discuss
17.

Virtual banking is also called -----

A. Internet Banking
B. Home banking
C. Mobile banking
D. None of these
Answer» A. Internet Banking
discuss
18.

Plastic money is ----

A. Debit card
B. Credit card
C. ATM card d
D. None of these
Answer» B. Credit card
discuss
19.

KCC is ----

A. Kissan credit card
B. Kissan customer card
C. Key Credit Card
D. None of these
Answer» A. Kissan credit card
discuss
20.

------- is based on the voice processing facility available with the bank computers.

A. Internet Banking
B. Tele Banking
C. Mobile Banking
D. All
Answer» B. Tele Banking
discuss
21.

------bank can accept deposit only ,but cannot lend .

A. Consortium Bank
B. Payment Bank
C. Small Finance Bank
D. None of these
Answer» B. Payment Bank
discuss
22.

------- Banks can issue ATM Debit cards but no Credit cards.

A. Payment Bank
B. Consortium Bank
C. Small Finance Bank
D. None of these
Answer» A. Payment Bank
discuss
23.

------- banks accept deposits but customer balance should not exceed Rs.1 lakh

A. Small Finance Bank
B. Consortium Bank
C. Payment Bank
D. None of these.
Answer» C. Payment Bank
discuss
24.

------ is to perform lending activities among weaker sections of the community.

A. Small Finance Bank
B. Consortium Bank
C. Payment Bank
D. All
Answer» A. Small Finance Bank
discuss
25.

----- are norms for banks aimed at mitigating the risk and strengthening the capital structure of the banks of member countries.

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» B. BASEL norms
discuss
26.

To strengthen the capital base of banks RBI laid down -------

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» C. Capital Adequacy Norms
discuss
27.

For providing transparency in accounting and reporting procedures of banks -- -- are introduced in 1992

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» A. IRAC rules
discuss
28.

------ banking refers to the use of technology and communication systems in delivering banking products and services to customers.

A. Hi-tech banking
B. Virtual banking
C. PC
D. Home banking.
Answer» A. Hi-tech banking
discuss
29.

Which of the following is known as plastic money

A. Credit card
B. Debit card
C. None of these
D. Both of these
Answer» D. Both of these
discuss
30.

Debit card means

A. Pay later
B. Pay now
C. Both of these
D. None of these
Answer» B. Pay now
discuss
31.

Which type of loans have less prone to the risk of becoming NPA

A. Retail loans
B. Whole sale loans
C. Gold loans
D. Mortage loans
Answer» A. Retail loans
discuss
32.

Which is the fastest possible money transfer system through banking channel

A. RTGS
B. EFT
C. ATM
D. None of these
Answer» A. RTGS
discuss
33.

Paperless banking is known as

A. RTGS
B. Internet banking
C. EFT
D. mobile banking
Answer» C. EFT
discuss
34.

Those banking services based on the voice processing facility available with the bank computers

A. Internet banking
B. Home banking
C. E banking
D. Tele banking
Answer» D. Tele banking
discuss
35.

Cash which is stored electronically on a microchip is called

A. E purse
B. Debit card
C. AYM
D. Credit card
Answer» A. E purse
discuss
36.

Electronic money is called as______ money

A. E-cash,
B. E-money,
C. E-Rupee
D. none
Answer» B. E-money,
discuss
37.

RTGS stands for _____

A. Real time goods settlement
B. Real time gross settlement
C. Real time gross standardize
D. none
Answer» B. Real time gross settlement
discuss
38.

E-payments are increased due to_____

A. online work
B. online payments
C. online shopping
D. none
Answer» C. online shopping
discuss
39.

There is competition between _______ banking and e- banking

A. traditional
B. Modern
C. private
D. none
Answer» A. traditional
discuss
40.

There is ____ in terms of transaction with E-banking

A. privacy
B. risk
C. freedom
D. none
Answer» B. risk
discuss
41.

Electronic money is called as E-cash money

A. True
B. False
C. all
D. none
Answer» B. False
discuss
42.

E-banking has no disadvantages

A. True
B. False
C. all
D. none
Answer» B. False
discuss
43.

There is no competition between traditional banking and e- banking

A. Ture
B. False
C. all
D. none
Answer» B. False
discuss
44.

There is risk in E-banking

A. True
B. False
C. all
D. none
Answer» B. False
discuss
45.

E-banking will lead to new type of job opportunity

A. True
B. False
C. all
D. none
Answer» A. True
discuss
46.

Reserve bank is the central bank of USA

A. True
B. False
C. all
D. none
Answer» A. True
discuss
47.

…………………….is the fastest possible money transfer system through banking channel

A. RTGS
B. EFT
C. ATM
D. None of these
Answer» A. RTGS
discuss
48.

RBI was introduced first ATM machine in India?

A. True
B. False
C. all
D. none
Answer» B. False
discuss
49.

Cash which is stored electronically on a microchip is called Credit Card

A. True
B. False
C. all
D. none
Answer» A. True
discuss
50.

E-payments are increased due to on line shopping.

A. True
B. False
C. all
D. none
Answer» A. True
discuss

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