Know Your Customer Guidelines FAQs- FREQUENTLY ASKED QUESTIONS

Know Your Customer Guidelines  FAQs-   FREQUENTLY ASKED QUESTIONS Updated up to September 02, 2016) QUESTION 1. What is KYC? Why is it required? Response:  KYC means “Know Your Customer”. It is a process by   which banks obtain information about the identity and address of the cust…

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PAN Number Compulsory for 17 Specified Transactions

PAN Number Compulsory for 17  S pecified Transactions The central government in its commitment to curb the circulation of black money &  widening of  tax base has made quoting of Permanent Account Number (PAN) compulsory for 17  specified transactions.. To collect informati…

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