Q. Which of the following is not the key element of the KYC Policy?
Answer: None of the Above
Notes: As per RBI guidelines all banks are required to formulate a KYC Policy with the approval of their respective boards. The KYC Policy consists of the following four key elements: 1) Customer Acceptance Policy 2) Customer Identification Procedures 3) Monitoring of Transactions 4) Risk Management.
This question is part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations.
📌 Question Number: 7 in 88-Aadhaar and E-KYC in Banks in the above course in App.