Question
Which of the following is not a recognized method of
conducting Know Your Customer (KYC)?Solution
RBI and UIDAI recognize multiple methods for completing KYC verification: 1. Paper-based (In-person) KYC → Customers physically submit self-attested identity and address proof documents to the financial institution. 2. Aadhaar-based KYC → Authentication is done through UIDAI either via OTP or biometrics, enabling remote verification. 3. Digital KYC / e-KYC → Uses geotagged live photographs, officially valid documents (OVDs), and electronic submission for verification. 4. Video KYC (V-CIP: Video-based Customer Identification Process) → Paperless, remote verification through live video interaction with an authorized official.
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