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operational aspects kyc
What does KYC stand for in the context of banking?
KYC stands for Know Your Customer, a process by which banks verify the identity and address of their customers to prevent money laundering and fraud.
What is the full form of CKYC in Indian banking?
Central Know Your Customer Registry
Which regulatory body in India mandates KYC norms for banks?
The Reserve Bank of India (RBI) mandates KYC norms for banks in India through its guidelines issued under the Prevention of Money Laundering Act (PMLA), 2002.
Which authority manages the Central KYC Records Registry in India?
CERSAI (Central Registry of Securitisation Asset Reconstruction)
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