Many a time we read in newspapers about ‘Know Your Customer’ norms to be followed by the banks. Why so much emphasis is paid on KYC norms ? (Pick up the correct statement). - Study24x7
Social learning Network
Banking/IRDA
265 followers study24x7 15 Feb 2021 12:47 PM study24x7 study24x7

Many a time we read in newspapers about ‘Know Your Customer’ norms to be followed by the banks. Why so much emphasis is paid on KYC norms ? (Pick up the correct statement).

A

It is a measure to provide quick and prompt service to the customers.

B

The purpose of this is to bring more and more people in Income Tax network.

C

It is basically an ‘Anti­ Money Laundering’ exercise.

D

It is an activity which allows banks to protect the identity of its High Worth Customers so that other banks who it will are their competitors, cannot approach them.

E

None

Banking
Like Comment Share
study24x7
Write a comment
Related Questions
500+   more Questions to answer

Popular Courses

Reasoning Special by Parwez Sir for... All Levels हिन्दी By Reasoning special by Parwez Alam
Average and Alligation for Bank PO ... All Levels हिन्दी By logicalangle
English Special Course for SSC CGL,... All Levels English By Topline Coaching 999 1,499 33% off
BANKING AWARENESS PREMIUM COURSE All Levels English By RAU IAS COACHING 499 799 38% off
Free Full Paid English Grammar All Levels English By Uphaar Classes - By Sumit Sir (YouT...
Ratio,Proportion and Partnerships f... All Levels हिन्दी By logicalangle
Featured Courses
Popular Pages

Featured Courses

BESTSELLER
Reasoning Special by Parwez Sir for all Government... All Levels हिन्दी By Reasoning special by Parwez Alam
FREE
5.0
IBPS PO (PRE) English Special by Pooja Mam All Levels English By Topline Coaching
FREE
5.0
BANKING AWARENESS PREMIUM COURSE All Levels English By RAU IAS COACHING 499 5.0
Government Jobs Exam Syllabus All Levels English By GOVERNMENT JOB NOTIFICATION
FREE
5.0

Popular Pages

SAT (Scholastic Assessment Test)

18 followers

Reasoning special by Parwez Alam

148 followers

Study24x7

1225 followers

Henry Harvin

60 followers

CBSE Study Materials

86 followers

Get the App

Download the Study24x7 App, so you can connect and collaborate.

study24x7
study24x7
Most Related Articles