Answer-Under the RBI’s KYC guidelines, “beneficial owner” for a company is identified as...

The beneficial owner of a company, under RBIs KYC guidelines, is defined as a natural person with more than 10 ownership in shares, capital, or profits, or someone who exercises control over management or policy decisions of the company.

Question

Under the RBI’s KYC guidelines, “beneficial owner” for a company is identified as _________.

A Any individual with more than 5% ownership

B Any member of the company’s board of directors

C Any natural person holding more than 10% shares or controlling the company’s policies

D The CEO of the company

E The largest individual shareholder

Practice Next

More Banking Operations Questions

Monetary policy in India is formulated by:
Which among the following items link the Income Statement and the Balance Sheet
"CASA" ratio in banking stands for:
A bank’s Profit before appropriations = ₹20 crore. Statutory reserve requirement is 25%. The bank also transfers ₹2 crore to Investment Fluctuation Reserve...
G-Secs in India are issued through auctions conducted by RBI. These auctions are conducted on the Core Banking Solution (CBS) platform of RBI called
The Basel III framework introduced a new capital buffer called the Countercyclical Capital Buffer (CCyB). What is its primary purpose?
'CBS' in the context of banking stands for:
What is a primary condition under RBI guidelines for REs when onboarding non-resident customers with limited KYC documentation?
Which of the following would not affect bank reconciliation?
The 'MCLR' (Marginal Cost of Funds based Lending Rate) system replaced the earlier 'Base Rate' system. What is a key component in calculating MCLR?

Relevant for Exams:

SIDBI Grade A (Assistant Manager)

Hey! Ask a query

Under the RBI’s KYC guidelines, “beneficial owner” for a company is identified as _________.

Detailed Solution

More Banking Operations Questions

Relevant for Exams:

Hey! Ask a query

Please Register/Login