Question
According to RBI's KYC Directions, if KYC/AML standards
differ between RBI and a host country regulator for foreign branches of Indian banks, which standard should be followed?Solution
RBI mandates that foreign branches or subsidiaries of Indian banks must adhere to the more stringent AML/KYC standards between RBI’s guidelines and the host country’s regulations. This ensures robust compliance and mitigates the risk of money laundering across different jurisdictions.
A seller priced 40 items (each having the same cost price) at 175% above their cost price. He sold 1/2th of these it...
A shopkeeper bought 100 identical tubelights priced at Rs. 265 each. He spent a total of Rs. 2600 on transportation and packaging. He put the la...
Mr. Joseph makes 1800 articles at a cost of 40 paise/article. He fixed the selling price such that if only 1000 articles are sold, he would have made pr...
- An item is listed for Rs. 20,000. It is sold after giving three consecutive discounts of 25%, 5% and 10%. What is the final selling price of the item?
Ratio of the cost price of article ‘A’ to ‘B’ is 5:3, respectively. Article ‘A’ is marked up by 40% above its cost price and then sold at a ...
Article ‘P’, if sold at a profit of 18% earns a profit of Rs. 360. If article ‘P’ is marked 30% above its cost price and then sold after offerin...
The profit gained from selling a product for Rs. 9,500 equals the loss when the product is sold for Rs. 6,300. If the cost price of the product had been...
- A dairy owner buys 20 liters of milk at Rs. 50 per liter. While selling, he uses a faulty measure that shows 1020 milliliters instead of 1000 milliliters b...
- A trader sold an item for Rs. 3,600 and earned a profit of 20%. What would be the selling price if the trader aims for a 10% profit instead?
A shopkeeper bought two articles for Rs. 700 each. If he sold one of them at 40% profit and the other at 25% loss, then find the difference between the ...
Relevant for Exams:
