Question
What is the main objective of KYC guidelines followed by
Banks? I- It helps prevent banks from using criminal networks. II- KYC helps the banks to communicate with clients and financial transactions. III- For KYC only identification evidence is required.Solution
Solution- The full form of KYC is Know Your Customer. KYC is the method of a company that verifies the customer’s identity and assesses possible risks to the business relationship from criminal intentions. The name is also used to relate to the regulations on banks and anti-money laundering regulations that govern such activities. Reserve Bank of India (RBI) adopted the KYC process to avoid financial fraud, such as identity theft, money laundering and illegal transactions. Here is a required document serving as identification evidence and address proof Passport Voter ID card Driving Licence PAN card Aadhaar Card If the document you provide for identity proof does not contain details of the address, you can send another legally valid document containing details of the address such as electricity bill, telephone bill, gas bill, etc.
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In the question three statements are given, followed by three conclusions, I, II and III. You have to consider the statements to be true even if it see...
Statements:Â
Only a few Towels are Showers.
All Showers are Garments.
No Garment is a Material.
Conclusions:
I. ...
Statements : Some potatoes are nuts.
All nuts are cashews.
No cashew is a fruit.
Conclusions: Some potatoes are cashews.
Statements:Â Â Â Â Â Â Â Â Â Â All eleven are twelve.
Some twelve are thirteen.Â
All thirteen are fourteen
Conclusions:Â Â Â Â Â ...
In the question below there are three statements followed by two conclusions I and II. You have to take the three given statements to be true even if t...
Statements: No bold is a smart.
Some smarts are cowards.
Conclusions: I. Some bolds are not cowards.
II. Some smarts are not bold...
Statements:
Only a few Haridwar is Dehradun.
No Dehradun is Nainital.
Only a few Nainital is Mumbai.
All Mumbai is Jaipur....
In the questions given below, there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be...
Statements:
All threads are wools.
Some wools are ropes.
All ropes are chains.
Conclusions:
I. Some wools are ch...
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