New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the folloiwng subsidiary of BSE, announced the

    launch of KYC Registration Agency (KRA), which maintains KYC records of investors in an electronic form.
    A BSE Technologies Correct Answer Incorrect Answer
    B Indian Clearing Corporation Limited Correct Answer Incorrect Answer
    C BSE Fintech Ltd Correct Answer Incorrect Answer
    D BSE E-Agricultural Marketing Ltd. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    BSE Technologies, a subsidiary of BSE, announced the launch of KYC Registration Agency (KRA), which maintains KYC records of investors in an electronic form. KRA is a SEBI-regulated intermediary that grants the market participants authorization for investors' Know Your Client (KYC), which is mandatory for investment in the securities market. KYC KRA has become a key segment for securities market investors and acts as a starting point for any investor's journey in the securities market. Learn Along: BSE         Headquarters: MumbaiMD & CEO: Ashish Kumar Chauhan KYC means to ‘know your customer’ which is an effective way for an institution to confirm and thereby verify the authenticity of a customer. For this, the customer is required to submit all KYC documentation before investing in various instruments. All financial institutions are mandated by the RBI to do the KYC process for all customers before giving them the right to carry out any financial transactions. Whether the customer uses KYC online verification or opts for offline KYC, this is a simple one-time process.

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