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      Question

      A Banking Unit shall follow Know Your Customer norms,

      combating of financing of terrorism and other anti-money laundering requirements, including reporting requirements issued by the ____________.
      A RBI Correct Answer Incorrect Answer
      B SEBI Correct Answer Incorrect Answer
      C IFSCA Correct Answer Incorrect Answer
      D Authority Correct Answer Incorrect Answer
      E Central Government Correct Answer Incorrect Answer

      Solution

      RBI, Explanation: IFSCA (Banking) Regulations, 2020: Rule 14. Know Your Customer and Anti-Money Laundering measures applicable to a Banking unit: A Banking Unit shall follow Know Your Customer norms, combating of financing of terrorism and other anti-money laundering requirements, including reporting requirements issued by the Reserve Bank from time to time, unless otherwise specified by the Authority.

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