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Questions and Answers
What document is required for an individual with no change in KYC information?
Which annexure must be obtained if an individual only changes their address details?
In which scenario is Annexure-D applicable?
What must be submitted when there is a change in KYC information for an individual?
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Which annexure is required for individuals who were minors at the time of opening their account on becoming major?
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What is a prerequisite for obtaining Annexure-A for an individual?
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What additional documentation is required when using Annexure-C?
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When is Annexure-E applicable for non-individuals?
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Study Notes
Customer KYC Documentation Requirements
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Individual customers with no KYC changes require Annexure-A if:
- CKYCR is available in bank records.
- KYC documents align with current CDD standards.
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For individual customers changing only address details, Annexure-C is needed:
- CKYCR must be available in bank records.
- Original Valid Documents (OVD) must reflect the current address and comply with current CDD standards.
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When any KYC information changes for individual customers, Annexure-B is applicable:
- Required regardless of whether CKYCR is available.
- Includes submission of OVD and a photograph.
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Minor accounts transitioning to major require Annexure-B for documentation:
- Applies to accounts held by minors at the time of opening.
- Necessary when customers reach adulthood.
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Other than individuals with no KYC changes require Annexure-D if:
- CKYCR is available in bank records.
- KYC documents match current CDD standards.
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Changes in KYC information for other than individual customers demand Annexure-E:
- Applicable in all scenarios involving any alterations in KYC information.
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Description
Test your knowledge on the KYC documentation requirements for individual customers in various scenarios. This quiz covers necessary annexures based on the status of CKYCR, address changes, and documentation for minor accounts. Assess your understanding of the compliance standards in customer identification.
