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    Question

    Which of the following RBI directions provides the legal

    authority for the issuance of the Master Direction on KYC?
    A Section 35A of the Banking Regulation Act Correct Answer Incorrect Answer
    B Section 45J of the Reserve Bank of India Act Correct Answer Incorrect Answer
    C Section 42 of the Reserve Bank of India Act Correct Answer Incorrect Answer
    D Section 26A of the Banking Regulation Act Correct Answer Incorrect Answer
    E Section 10(4) of the FEMA Act Correct Answer Incorrect Answer

    Solution

    The Master Direction on KYC is issued under Section 45J of the Reserve Bank of India Act, 1934, as mentioned in the circular "Amendment to the Master Direction on KYC."

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