Page 154 - DMGT303_BANKING_AND_INSURANCE

Unit 7: KYC Norms and Anti Money Laundering

7.10 Review Questions Notes

1. What do you mean by KYC norms? Discuss in detail.
2. Describe the difference between retail lending and retail banking.

3. What are the rules and regulation for anti money lending concept?
4. What requirements must be fulfilled for residential status under FEMA Act?
5. What are the channels for retail lending?
6. Discuss the concept of FEMA Act.

Answers: Self Assessment

1. Financial 2. High/medium

3. Type of customer 4. Customers
5. Detection/preventive 6. False
7. True 8. False
9. True 10. False

11. FEMA 12. Retail
13. Association 14. 49(3)
15. Attractive

7.11 Further Readings

Books The Professionals Banker, The ICFAI University Press, Hyderabad.
RBI Annual Report 2005-06.

Social Responsibility of Banks, By Philip J. Jennings.

Online links http://www.businessdictionary.com/search-
terms.php?q=Foreign+exchange+management+act
http://www.ehow.com/about_6658752_definition-foreign-exchange-
management.html#ixzz1wzWFCkw2

bankofceylon.in/Bank_Policies%5CVPC-KYC.pdf

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