Current Affairs

GK MCQs Section
Q. What is the expansion of ‘V-CIP’, which was seen in the news related to banking?
Answer: Video based Customer identification process
Notes: Reserve Bank of India announced that a fresh KYC process can be done by visiting a bank branch or remotely through a Video-based Customer Identification Process (V-CIP). If there is no change in the KYC, a self-declaration from the individual customer is sufficient to complete the re-KYC process  
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