JAIIB PPB Practice Questions - IIBF JAIIB Paper 2 Principles And Practices Of Banking (India) Exam

The primary objective of KYC norms in banking is to:

Eliminate all cash transactions Establish customer identity and understand the nature of business to mitigate financial crime risk Maximise branch footfall Replace credit appraisal

Correct Answer:

Establish customer identity and understand the nature of business to mitigate financial crime risk

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