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Module: | KYC, NPAs, Advances & Investment Valuations

Q245: Which specific function regarding KYC norms is a bank prohibited from outsourcing?

A
The collection of KYC documents
B
The verification of address through contact point verification
C
The decision-making functions of determining compliance with KYC norms
D
The data entry of customer details into the system
✅ Correct Answer: C
The bank shall ensure that it does not outsource the decision-making functions of determining compliance with KYC norms.
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