BANK SIDBI Grade A (General) Phase I Mock Test 2024 Banking and Financial Awareness KYC & Money Laundering
Which of the following statements about KYC directions is/are correct?
1. The RBI’s Master Direction on KYC applies to all entities regulated by the RBI, including their branches and subsidiaries abroad, irrespective of host country laws.
2. The Prevention of Money-Laundering Act, 2002, and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, form the legal framework for AML and CFT in India.
3. A "Small Account" is a savings account opened under sub-rule (5) of rule 9 of the PML Rules, 2005.
1
1 and 2 Only
2
2 and 3 Only
3
1 and 3 Only
4
All of the above
5
None of the above