📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    ⚡ Month End Offer - Flat 52% Off On All Courses! Enroll Now ⚡
    00:00:00 AM Left

    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.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question