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    Question

    In the context of the Digital KYC process, what does

    “CAF” stand for?
    A Customer Application Form Correct Answer Incorrect Answer
    B Compliance Authorization Framework Correct Answer Incorrect Answer
    C Centralized Application File Correct Answer Incorrect Answer
    D Customer Authentication Form Correct Answer Incorrect Answer
    E Compliance and Approval Form Correct Answer Incorrect Answer

    Solution

    In the Digital KYC process, CAF refers to the Customer Application Form. • The CAF is digitally generated and contains: o The live photograph of the customer, o Embedded details such as CAF number, GPS coordinates, authorized official’s name, unique employee code, and o Date and time stamps to ensure authenticity. This ensures that the KYC process is conducted in a secure, transparent, and verifiable manner, reducing the risk of fraud or misuse.

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