Module: General Practice
Q39: Which of the following statements regarding the periodic updation of KYC for an individual customer are correct?
If there is no change in KYC information, a self-declaration from the customer via registered email-id, mobile number, or ATM is sufficient.
If there is a change only in the address details, a self-declaration of the new address is required, which the Regulated Entity must then verify through positive confirmation within two months.
Any change in KYC information, including a change of address, requires the customer to visit the branch in person.
If there is a change only in the address details, a self-declaration of the new address is required, which the Regulated Entity must then verify through positive confirmation within two months.
Any change in KYC information, including a change of address, requires the customer to visit the branch in person.
✅ Correct Answer: A
Statements 1 and 2 are correct.
No change requires only self-declaration; address change requires positive confirmation.
Physical visits are not mandatory for these, a procedural update tested in RBI KYC Guidelines MCQs.
No change requires only self-declaration; address change requires positive confirmation.
Physical visits are not mandatory for these, a procedural update tested in RBI KYC Guidelines MCQs.