K2D1234

In the event of an existing customer or the beneficial owner of an existing account, subsequently becoming a Politically exposed Person (PEP), will the branches take enhanced due diligence measures for such account?

• Yes branches should take enhanced due diligence measures for such accounts.
• No branches should not take enhanced due diligence measures for such accounts.
• An account can not be subjected to EDD in case the status of account holder or beneficial owner gets changed.
• Once an account has been opened in normal category it can not be subjected to enhanced monitoring

Which one of the following is not an Officially Valid Document? (OVD)?

• Passport
• Permanent Account Number (PAN)
• Driving Licence
• Proof of possession of Aadhaar number

Which one of the following is not an Officially Valid Document? (OVD)?

• Passport
• Aadhaar number/ card
• Driving Licence
• Proof of possession of Aadhaar number

While onboarding a customer, if Aadhar number has been voluntarily provided as proof of identity and address, which of the following OVD is to be obtained in addition to the Aadhar letter/card, as Aadhar letter/card is not included in the list of OVDs?

• Passport with current address.
• Driving License with current address
• Proof of Possession of Aadhar where offline verification of Aadhar can be undertaken.
• No need to obtain any other OVD, where Aadhar number has been provided by the customer for as proof of identity and address

Which one of the following is not an Officially Valid Document? (OVD)?

• The Voter's Identity Card issued by the Election Commission of India,
• Job card issued by NREGA duly signed by an officer of the State Government.
• Landline Telephone Bill
• Letter issued by the National Population Register containing details of name and address.

Branches should gather sufficient information on Politically exposed Persons (PEPs), if sufficient information regarding a PEP and sources of funds are not available with bank, what will be adverse effect?

• The PEP will not be able to do transactions in the account.
• Only a Small account can be opened for a PEP.
• The detection of suspicious transactions may become challenging
• All the above options are correct.

Live location of the customer (Geotagging) is to be captured during Video CIP, to ensure that customer is physically present in _________________________ .

• India
• his/ her home
• his/ her office
• None of the above options is correct.

Which of the following documents shall NOT be ?deemed to be OVD? for the limited purpose of proof of current address?

• Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public-Sector Undertakings.
• Property or Municipal tax receipt
• Utility bill which is not more than two months old of any service provider
• Offer letter issued by the employer which contains current address of the customer.

Which of the following set of two documents, is NOT the correct set of documents, which can be accepted at the time of onboarding, for CDD of a proprietorship concern?

• License/ certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute & License issued by the municipal authorities under Shop and Establishment Act in the name of the firm.
• Sales tax/ income tax returns & CST/VAT/ GST certificate in the name of the firm.
• IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT & Rent deed executed in the name of the proprietor.
• Complete Income Tax Return in the name of the sole proprietor where the firm's income is reflected & Utility bills such as electricity, water, landline telephone bills, etc.

Is conversion of existing accounts opened in non-face to face mode to normal allowed through Video-CIP?

• No, Video-CIP is available only for onboarding of a new individual customer.
• Yes, conversion of existing accounts opened in non-face to face mode is allowed by RBI.