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Many a time we read in newspapers about ‘Know Your Customer’ norms to be followed by the banks. Why so much emphasis is paid on KYC norms ? (Pick up the correct statement).
A
It is a measure to provide quick and prompt service to the customers.
B
The purpose of this is to bring more and more people in Income Tax network.
C
It is basically an ‘Anti Money Laundering’ exercise.
D
It is an activity which allows banks to protect the identity of its High Worth Customers so that other banks who it will are their competitors, cannot approach them.
5.0
999
