Banking · KYC Guidelines

Under RBI's KYC guidelines, which document or procedure is mandatory for a bank to identify the Beneficial Owner (BO) when opening an account for a non-individual entity like a company?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1A Surety Bond executed by a third-party guarantor
2A Beneficial Owner declaration along with official identity documents of the BO✓
3A registration certificate from the Registrar of Companies (ROC) only
4A copy of the entity's latest Income Tax Return (ITR)

Correct answer

A Beneficial Owner declaration along with official identity documents of the BO

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