General Studies · RBI KYC Directions

Evaluate the correctness of the following regulatory statements regarding banking processes: Statement 1: The Form 60 declaration in lieu of PAN is available to all customer categories including corporate entities. Statement 2: For a sole proprietorship account, banks can accept only one business proof document if a physical verification is conducted. Statement 3: The Video-based Customer Identification Process (V-CIP) must be conducted directly by authorized bank officials and cannot be outsourced to a third-party agent. Statement 4: For NRI accounts, the Indian address must always be obtained for C-KYC registry records.