Module: General Practice
Q19: Which of the following statements regarding a Regulated Entity's (RE's) Customer Acceptance Policy are correct?
The policy must ensure that no account is opened in an anonymous or fictitious/benami name.
The policy should not result in the denial of banking or financial facilities to members of the general public.
The policy must specifically avoid denying services to financially or socially disadvantaged groups, including Persons with Disabilities (PwDs).
The policy should not result in the denial of banking or financial facilities to members of the general public.
The policy must specifically avoid denying services to financially or socially disadvantaged groups, including Persons with Disabilities (PwDs).
✅ Correct Answer: D
All three statements are key requirements of a Customer Acceptance Policy.
It must prohibit anonymous accounts while remaining inclusive to the general public.
Balancing security and inclusion is a key theme in RBI KYC Guidelines MCQs.
It must prohibit anonymous accounts while remaining inclusive to the general public.
Balancing security and inclusion is a key theme in RBI KYC Guidelines MCQs.