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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 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.

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