Answer-In the context of wire transfers, who is defined as the “Beneficiary” according to RBI&r...

The Beneficiary in a wire transfer is the person or entity de signated t o receive the funds from the transaction. This individual or entity is typically specified by the originator, ensuring the correct party receives the amount transferred.

Question

In the context of wire transfers, who is defined as the “Beneficiary” according to RBI’s KYC guidelines?

A The intermediary bank processing the transfer

B The person initiating the transfer

C The bank that initiates the transfer

D The natural or legal person identified as the receiver of funds

E The RBI-regulated bank overseeing the transaction

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SIDBI Grade A (Assistant Manager)

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In the context of wire transfers, who is defined as the “Beneficiary” according to RBI’s KYC guidelines?

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