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    Question

    Who is considered a Beneficial Owner under RBI KYC

    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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