Module: | Capital Adequacy, Basel Norms & Monetary Policy
Q24: Which of the following correctly matches the "Risk Category" with the mandatory minimum periodicity for KYC updation?
1. High-risk customers: Once in every two years
2. Medium risk customers: Once in every eight years
3. Low-risk customers: Once in every ten years
2. Medium risk customers: Once in every eight years
3. Low-risk customers: Once in every ten years
✅ Correct Answer: D
The bank shall carry out periodic updation at least once in every two years for high-risk customers, once in every eight years for medium risk customers and once in every 10 years for low-risk customers.