What Is Full Form Of KYC ?
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KYC – Know Your Customer
Know Your Customer is a process that is used by a business to identify the detail for customer. This term is used for customer identification. In this regard, RBI has launched the guideline.
The main purpose of KYC is to prevent banks to be used by criminal for money laundering and reducing the illegal activities of criminal regarding bank. After knowing KYC full form, now we are going to discuss about detail information about kyc.
KYC FUll Form :
| S.N. | KYC Full Form In Hindi | Full Form |
| 1. | KYC Full Form In HIndi | जानिए अपने ग्राहक |
| 2. | KYC Full Form | Know Your Customer |
| 3. | KYC Full From | Kent Youth Choirs |
| 4. | KYC Full form in banking | Kinetic Yield Center |
KYC Full Form In Hindi :
KYC Full Form In Hindi – जानिए अपने ग्राहक
Detail that is included in KYC is as follows:
Customer Name: here, customer have to give his or her full name.
Customer Address : it is about full address of customer . if customer have two home . in that case , he have to give both address information here separately.
Date of birth: here, customer have to give information about his date of birth. he can show his 10th class certificate to ensure the correct date of birth.
Father’s Name : here, father name of customer is required.
Mother‘s Name: here, mother name of customer is required.
Marital Status: here, he have to show his marital status like single or married or other etc.
Contact Number: here, contact number of customer is required. it should be updated mobile number . because it is verified later.
Pan Card Number : pan card is permanent account number of customer that is issued by government to him.
Components of KYC :
There are two components of KYC which are (1) identity verification and (2) address identification. For fulfilling identity verification, the bank requires legal documents that have been attached by photo like Driving License or Passport or Pan Card or Voter’s Card etc. For verifying the present address of customer, bank can ask for Telephone Bill or Electricity Bill etc.
Requirement of KYC under Prevention of Money Laundering Act, 2002 :
It is mandatory to get KYC detail of client before doing any kind of business like banking, selling mutual fund etc. under prevention of money laundering act, 2002. SEBI notified KYC Form and supporting documents that are used by all SEBI registered company. If bank is not doing according to this act, then there is heavy penalty under sec 35 A of Banking Regulation Act 1949.
Other KYC Full form:
- Kent Youth Choirs
- Know your Client
Read Also – What Is Full Form Of Net ?
