Banking · RBI Guidelines
When a company requests a current account for business transactions, which of the following steps is mandatory under RBI and banking guidelines regarding high-value transactions and entity identification?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Verification of the company's Legal Entity Identifier (LEI) as per prescribed thresholds.✓
- 2Accepting the account application without documents if the company is listed.
- 3Allowing account opening without a formal board resolution.
- 4Obtaining the PAN card details of the authorized signatory only.
Correct answer
Verification of the company's Legal Entity Identifier (LEI) as per prescribed thresholds.
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