Know Your KYC Quiz
Know Your KYC Quiz
Test your knowledge about KYC (Know Your Customer) with this engaging and informative quiz! This quiz is designed to enhance your understanding of KYC regulations in India and their significance in the banking and financial sectors.
Are you aware of the KYC process and its implications? Take a look at some of the topics you'll explore:
- The meaning of KYC
- KYC compliance in India
- Consequences of non-compliance
- Methods of KYC verification
What does KYC stand for Banks and NBFCs?
Know Your Country
Know Your Customer
Keep Your Credentials
Kickstart Your Compliance
Which regulatory body in India is responsible for overseeing KYC compliance?
Reserve Bank of India (RBI)
Securities and Exchange Board of India (SEBI)
Insurance Regulatory and Development Authority of India (IRDAI)
Ministry of Finance
What is the purpose of the KYC process in India?
Prevent fraud, money laundering and terrorist financing
Collect personal information for marketing purposes
Simplify banking procedures
None of the above
Which is the most popular Proof of Identity document used for KYC verification in India?
PAN Card
Voter ID Card
Driving License
Passport
Aadhar card
What are the consequences of non-compliance with KYC regulations in India?
Fines and penalties
Suspension of business operations
Loss of banking license
All of the above
In addition to physical documents, which digital method can be used for KYC verification in India?
Video call verification
Email verification
SMS verification
Self-attestation of documents
Which government agency is responsible for the operation and maintenance of the CKYC Registry in India?
Unique Identification Authority of India (UIDAI)
National Payments Corporation of India (NPCI)
Central Registry of Securitization and Asset Reconstruction and Security Interest (CERSAI)
Ministry of Corporate Affairs (MCA)
What is the purpose of the CKYC Registry in India?
To store and maintain KYC records of customers across different financial institutions centrally
To conduct customer background checks for all banking transactions
To regulate the use of Aadhaar for KYC verification
To ensure data privacy and protection of KYC documents
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