Question
According to RBI’s KYC/AML guidelines, what framework
must Regulated Entities (REs) adopt to effectively identify, assess, and manage risks of money laundering (ML) and terrorist financing (TF)?Solution
• RBI requires banks, NBFCs, and other Regulated Entities (REs) to adopt a Risk-Based Approach (RBA) for combating ML/TF risks. • Under RBA, institutions must: o Identify risks related to customers, products, services, and geographies. o Assess and categorize customers into low, medium, or high risk. o Apply enhanced due diligence (EDD) for high-risk customers (e.g., PEPs, cross-border clients). o Monitor transactions proportionately to the level of assessed risk. • This ensures efficient allocation of compliance resources and strengthens the AML/CFT framework.
From the following data, compute funds from operations: Net profit ₹8 lakh, Depreciation ₹2 lakh, Loss on sale of asset ₹50,000, Profit on sale of...
 Calculate EOQ from the data given below and select the correct answer from the options given below:
Revenue as per Ind AS -18 is not categorised into which one of the following types:
As per RBI’s KYC/AML guidelines on wire transfers, the term “Beneficiary” refers to:
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State which statement is incorrect:
Opening work in process inventory can be calculated as under
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An LC limit of ₹48 lakh is sanctioned, and the lead time is 3 months. What is the projected annual purchase of raw material?
A type of market where debt and stocks are traded and maturity period is more than a year is known as