📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      By when did the Reserve Bank of India (RBI) direct all

      banks to ensure full compliance with KYC provisions, as per the guidelines introduced in 2002?
      A December 31, 2004 Correct Answer Incorrect Answer
      B January 1, 2006 Correct Answer Incorrect Answer
      C October 15, 2003 Correct Answer Incorrect Answer
      D July 1, 2005 Correct Answer Incorrect Answer
      E December 31, 2002 Correct Answer Incorrect Answer

      Solution

      The Reserve Bank of India introduced KYC guidelines for all banks in 2002. In 2004, RBI directed that all banks ensure that they are fully compliant with the KYC provisions before December 31, 2005. The purpose was to prevent money laundering, terrorist financing and theft.

      Practice Next
      More ESI Questions
      ask-question