GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
know the family details of the customer
|
|
|
know the financial details of the customer
|
|
|
know the locational details of the customer
|
|
|
know the educational details of the customer
|
Detailed explanation-1: -KYC means Know Your Customer and sometimes Know Your Client. KYC or KYC check is the mandatory process of identifying and verifying the client’s identity when opening an account and periodically over time. In other words, banks must make sure that their clients are genuinely who they claim to be.
Detailed explanation-2: -The objective of KYC/AML/CFT guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities.
Detailed explanation-3: -India: The Reserve Bank of India introduced KYC guidelines for banks in 2002.
Detailed explanation-4: -Customer Identification. Before checking a customer’s identification documents, it’s necessary to verify their and scrutinise all available information for any inconsistencies. Customer Due Diligence (CDD) Enhanced Due Diligence (EDD)