General Studies · Digital Banking and V-CIP Norms
Under the Video-based Customer Identification Process (V-CIP) introduced and regulated by the Reserve Bank of India, which of the following is a mandatory technical/operational requirement for the bank to onboard a customer?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank can rely on a pre-recorded video sent by the customer through the bank's portal.
- 2The bank must ensure that the video interaction is live, the customer is physically present in India, and the session is geotagged.✓
- 3The V-CIP process must be conducted by a business correspondent at the customer's residence.
- 4The bank must use a third-party video conferencing app like Zoom or WhatsApp for the interaction to ensure high quality.
Correct answer
The bank must ensure that the video interaction is live, the customer is physically present in India, and the session is geotagged.
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