General Knowledge · General Awareness
With reference to banking regulations in India, under which statutory act were Know Your Customer (KYC) guidelines legally empowered and formalised?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Securitisation and Reconstruction of Financial Assets Act, 2002
- 2Reserve Bank of India Act, 1934
- 3Prevention of Money Laundering Act, 2002✓
- 4Banking Regulation Act, 1949
Correct answer
Prevention of Money Laundering Act, 2002
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