Who is considered a Beneficial Owner under RBI KYC

Q: Answer-Who is considered a Beneficial Owner under RBI KYC norms?

A Beneficial Owner BO is defined under KYC norms as an individual who ultimately owns or controls the entity. In case of a company, it is typically someone who owns or controls 25 of shares, capital, or voting rights.

norms?

A Any nominee of the company Correct Answer Incorrect Answer

B Person authorized to operate the bank account Correct Answer Incorrect Answer

C Individual holding ≥25% of controlling interest or capital Correct Answer Incorrect Answer

D Promoter of the company Correct Answer Incorrect Answer

E Chartered Accountant of the firm Correct Answer Incorrect Answer

Solution

A Beneficial Owner (BO) is defined under KYC norms as an individual who ultimately owns or controls the entity. In case of a company, it is typically someone who owns or controls ≥25% of shares, capital, or voting rights.

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