PAN number needs to be quoted for transactions such as account opening, transactions above Rs.50,000 (whether in cash or non-cash), etc. Question 11. Can I Purchase A Demand Draft/payment Order/travellers Cheque Against Cash? Is It Compulsory To Furnish Aadhaar Card For Opening An Account? Question4: I have dealt with my clients for many years , do I still need to carry out Customer Due Diligence? Would It Be Possible, If I Do Not Have Any Of The Officially Valid Documents, To Have A Bank Account, Which Is Not Subjected To Any Limitations As In The Case Of ‘small Accounts’? Kyc Interview Questions And Answers Pdf 41 kyc analyst interview questions. It was 2 separate interview with 2 people per interview. Be careful that it does not sound rehearsed. These six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card, Aadhaar Card issued by UIDAI and NREGA Job Card. What If I Do Not Provide The Kyc Documents At The Time Of Periodic Updation? If you do not provide your KYC documents at the time of periodic updation, bank has the option to close your account. Question 21. A normal account can be opened by submitting a copy of any one of the following documents as Proof of Identity (PoI): Identity card with person’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;                                (or)letter issued by a gazetted officer, with a duly attested photograph of the person. No. You need to have a short statement prepared in your mind. Yes, banks are required to classify their customers into ‘low’, ‘medium’ and ‘high’ risk categories depending on their AML risk assessment. Question #5.1 : Why are you the best candidate for the job? In such case, you can submit the officially valid document having your New Delhi address, together with a declaration about your Chennai address for communication purposes. initially allowing all credits and disallowing all debits while giving an option to you to close the account and take your money back). Would It Be Possible, If I Do Not Have Any Of The Officially Valid Documents, To Have A Bank Account, Which Is Not Subjected To Any Limitations As In The Case Of ‘small Accounts’? Only the candidates with the highest scores will progress to the video interview stage. You can open a bank account in Chennai even if the address in the “Officially Valid Document” is that of New Delhi and you do not have a proof of address for your Chennai address. It is a process by which banks obtain information about the identity and address of the customers. Why Is It Required? Meanwhile, the account holders can revive accounts by submitting the KYC documents. Question 18. KYC is required to be done at least once in two years for high risk customers, once in eight years for medium risk customers and once in ten years for low risk customers. Yes, all customers who do not have accounts with the bank (known as walk-in customers) have to produce proof of identity and address while purchasing third party products from banks if the transaction is for Rs.50,000 and above. Yes, Demand Draft/Payment Order/Travellers Cheques for below Rs.50,000/- can be purchased against cash and such instruments for Rs. In case of opening an account in another bank, however, you will have to undergo KYC exercise afresh. Introduce Yourself ? Question 14. I Do Not Have A Bank Account. Question 22. 50000/- and above can be issued only by way of debiting the customer’s account or against cheques. Question 9. Since debit cards are issued only to account holders and accounts are opened only after the KYC procedure is completed, there is no need for separate KYC for issuing debit card. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. Question 2. What Is Kyc? This, however, is not a general rule and it is left to the judgement of the banks to decide whether this simplified procedure can be adopted in respect of any customer. A full list of transactions where PAN number needs to be quoted can be accessed from website of Income Tax Department. Question 13. HR Questions. Question 7. In other words you must sell what the buyer is buying. It largely depends on the responsibilities of the role you are being interviewed for. No, if you have opened a KYC compliant account with a bank, other than a ‘small account’, then for opening another account with the same bank, furnishing of documents is not necessary. Yes. Banks have to give due notice of three months initially to the customers before exercising the option of ‘partial freezing’. Question 12. Is It Compulsory To Furnish Aadhaar Card For Opening An Account? Interview for a job of a compliance officer belongs to difficult job interview. It is important to adequately prepare for the numerical reasoning test by accustoming yourself with the overall test format and types of questions included. KYC (Know your customer) is alternatively called know your client or 'KYC' is the process of a business identifying and verifying the identity of its clients. What Are The Documents To Be Given As ‘proof Of Identity’ And ‘proof Of Address’? The UIDAI then transfers your data comprising your name, age, gender, and photograph electronically to the bank. Yes. It also depend on whether you are fresher or experienced. 15 Toughest Interview Questions and Answers! What Are The Rules Regarding Periodic Updation Of Kyc? Do I Have To Furnish Kyc Documents For Each Account I Open In A Bank Even Though I Have Furnished The Documents Of Proof Of Identity And Address? Yes. If My Name Has Been Changed And I Do Not Have Any Ovd In The New Name, How Can I Open An Account? KYC means “Know Your Customer”. Yes. You can still open a bank account known as ‘Small Account’ by submitting your recent photograph and putting your signature or thumb impression in the presence of the bank official. If the address appearing in the ‘Officially Valid Documents’ (OVDs) submitted for proof of address is no longer your valid address (i.e. Is There Any Difference Between Such ‘small Accounts’ And Other Accounts? Plus, you’ll get ready-made content to add with one click. Is It Compulsory To Furnish Aadhaar Card For Opening An Account? Question 25. If My Name Has Been Changed And I Do Not Have Any Ovd In The New Name, How Can I Open An Account? Similarly, leave and license agreements with such employers allotting official accommodation; and. Answer : No. What Are The Rules Regarding Periodic Updation Of Kyc? 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