Target KYC AML AUG 2023

What does CFT stands for under KYC/AML regulations?

• Combating the financing of terrorism

• Calculating financial terrorism

• Committee on financial terrorism

• Commission on financial terrorism

The amount beyond which cash transactions (in respect of both Receipts &

Payments) are to be monitored by the Commercial Banks as stipulated by the

Reserve Bank of India in its guidelines is

• Rs.5,00,000.00 & above

• Rs.8,00,000.00 & above

• Rs.10,00,000.00 & above

• Rs.3,00,000.00 & above

Due diligence is done when an account is opened to enable the banks so as to

ensure:

• the identification of the customer at the time of account opening

• correctness of the various denominations of notes that are given by the

  customers while an account is opened

• authenticity of the signatures of the customer at the time of account opening

• speeding up the process of opening of accounts the new customers

While opening an account of a partnership firm, one of the vital document

that is to be produced by the partnership firm is which of the following

documents?

• Partners Memorandum of Understanding (MOU)

• Partnership Deed

• Registration certificate of Partnership Firm

• Signatures of all the partners

Cash cannot be accepted for the issue of Demand Deposits/TTs/Rupee TCs

from the customers for Rs. ______.

• Rs.50,000.00 & above

• Rs75,000.00 & above

• Rs.55,000.00 & above

• Rs.25,000.00 & above