Question

Under the Risk-Based Approach prescribed by the Reserve Bank of India, in which specific scenario is a banking institution required to apply Enhanced Due Diligence (ED

  • D ?
A When a customer opens a standard low-value salary account
B When customers are explicitly assessed as high risk
C When a customer executes routine automated utility bill payments
D When dealing with domestic entities operating in low-risk sectors
E When onboarding individuals through verified face-to-face interactions
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