Multiple choice

KYC guidelines have been framed on the recommendations/as per guidelines of

  1. Reserve Bank of India

  2. Ministry of Finance

  3. Indian Banks Association

  4. Financial Action Task Force

  5. Ministry of Home Affairs

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

KYC (Know Your Customer) guidelines in India have been framed by the Reserve Bank of India (RBI). The RBI is the central banking institution that regulates banking norms and customer verification procedures. While the Ministry of Finance oversees RBI, the specific KYC norms are formulated by RBI. FATF provides international standards but Indian KYC follows RBI guidelines.