KYC used in the Banks in India, the main aim for using

Q: Answer-KYC used in the Banks in India, the main aim for using KYC in bank is_____

Know your customer KYC is the process of a business verifying the identity of its clients. Know your customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.

KYC in bank is_____

A It is used by the central bank to control liquidity Correct Answer Incorrect Answer

B It is used for increasing the CRR of banks Correct Answer Incorrect Answer

C It is used for customer identification Correct Answer Incorrect Answer

D It is used against money laundering Correct Answer Incorrect Answer

E Both 3 and 4 Correct Answer Incorrect Answer

Solution

Know your customer (KYC) is the process of a business verifying the identity of its clients. Know your customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.

Practice Next

More Economy and Banking and Finance Static Concepts Questions

निम्नलिखित शब्दों में से केंद्रक अभिकरण का पर्याय के ल�...
इस प्रश्न में अंग्रेजी में एक वाक्य दिया गया है। नीचे दिये...
नीचे अंग्रेज़ी के वाक्य दिए गए है उनके सही हिन्दी अनुव...
निम्नलिखित में से Adulterant शब्द का वित्तीय शब्दावली में सह...
Development is about expanding the capabilities of the disadvantaged, thereby improving their overall quality of life.
Contempt के लिए सही हिन्दी पारिभाषिक शब्द है
The High Court’s judgment upholding the ban does none of that.
निम्नलिखित में से decline का वित्तीय शब्दावली के अनुसार हिंद...
The main function of all advertising is bringing new products or services to the knowledge of their prospective customers and promoting their sale.
निम्नलिखित में से लक्ष्य शब्द का अर्थ नहीं है ?
...

Relevant for Exams:

South Indian Bank Probationary Clerk

Thank You for posting your query. Please check your email for further guidance

Please Register/Login to Download Question