Consider the following statements regarding the recent amendments to the KYC Master Directions by the Reserve Bank of India (RBI):
- Customers who have completed KYC once will not need to repeat the process for new accounts or services within the same institution.
- High-risk customers are required to update their KYC every 5 years under the new guidelines.
- Financial institutions must upload customer KYC data to the Central KYC Records Registry (CKYCR) for accounts opened after January 1, 2017.
Which of the above statements is/are correct?
1
Only 1 and 2
2
Only 1 and 3
3
Only 2 and 3
4
All 1, 2, and 3
5
Only 1