Question
What is the aggregate annual credit limit for deposit
accounts opened using Aadhaar OTP-based e-KYC?Solution
• RBI permits Aadhaar OTP-based e-KYC for quick account opening in non-face-to-face mode, but with restrictions due to higher risk. • One such restriction is that the aggregate annual credit limit across all such deposit accounts is ₹2,00,000. • If this limit is breached, the account holder must undergo full Customer Due Diligence (CDD) to continue operations. • This safeguard ensures accounts are not misused for money laundering or high-value transactions without proper KYC verification.
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