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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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