Question

As per Union Budget 2023-24, how will the KYC process be simplified?

A Adopting a ‘risk-based’ approach Correct Answer Incorrect Answer
B Adopting a ‘one size fits all’ approach Correct Answer Incorrect Answer
C By increasing the number of compliances Correct Answer Incorrect Answer
D By introducing new legal provisions Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Adopting a ‘risk-based’ approach. The information provided states that the KYC process will be simplified by adopting a ‘risk-based’ instead of ‘one size fits all’ approach.

Practice Next
×
×