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      Question

      KYC norms are primarily governed under which of the

      following legislations?
      A Companies Act Correct Answer Incorrect Answer
      B Prevention of Money Laundering Act Correct Answer Incorrect Answer
      C RBI Act Correct Answer Incorrect Answer
      D Banking Regulation Act Correct Answer Incorrect Answer
      E FEMA Correct Answer Incorrect Answer

      Solution

      The PMLA, 2002 lays the foundation for KYC compliance in Indian banking to prevent money laundering and illegal financial activity.

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