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    Question

    What is a primary condition under RBI guidelines for REs

    when onboarding non-resident customers with limited KYC documentation?  
    A Conduct background verification in the host country Correct Answer Incorrect Answer
    B Limit transaction value to â‚ą50,000 Correct Answer Incorrect Answer
    C Verification must be done by Indian Embassy or Consulate Correct Answer Incorrect Answer
    D Open account with a co-signer Correct Answer Incorrect Answer
    E Require both Aadhaar and PAN Correct Answer Incorrect Answer

    Solution

     For NRIs and foreign nationals, RBI guidelines allow REs to accept documents certified by authorized officials, such as the Indian Embassy or Consulate in the customer’s country, when onboarding with limited KYC.   

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