Module: General Practice
Q38: If a bank opens a deposit account using OTP-based e-KYC in non-face-to-face mode, what is the maximum period the account can operate before a full Customer Due Diligence (CDD) procedure is required?
✅ Correct Answer: B
The bank shall not allow accounts… opened using OTP based e-KYC to operate for more than one year unless it carries out identification as per paragraph 23 or as per paragraphs 26 and 27 (V-CIP). This validity period is a standard question in the IIBF AML KYC Exam 2026.