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


    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    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 is someone who ultimately owns or controls the business. Under RBI norms, this typically refers to individuals holding ≥25% ownership or voting rights, and banks must identify them to assess actual credit exposure and risk.

    Practice Next
    ask-question