- CAN ANY ONE CLARIFY FOLLOWING POINTS ON KYC NORMS IN BANKS
- A Finance Officer of a reputed University issues a cheque of Rs.2.00 crore to one the branches of a Nationalized Bank with a letter signed by him to invest this amount for a fixed period of 24 months. Kindly inform me whether KYC norms are applicable to this University or just the letter signed by Finance Officer is sufficient
- If so, kindly inform me the descripttion of documents to be obtained by the bank from this University to invest its surplus funds with any bank as per KYC norms
- Kindly inform me whether nationalized banks can make their own rules and regulations on KYC norms in violation of KYC norms prescribed by RBI
- As I informed above, this University is very reputed and famous all over India and Finance Officer of this University is personally known to bank officials of above Bank. Kindly inform me whether above bank can waive the KYC documents from this University just because Bank Officials personally knew the Finance Officer of this University?
- KYC documents were obtained by one of the branches of above bank in 2002 for a deposit of Rs.50.00 lakhs.Kindly inform me whether same KYC documents holds good for subsequent investments done by Finance Officer of this University in various other branches of same bank in same city
- Kindly inform me if the Customer ID created by the above bank under Core Banking Solutions in different branches is different for the same University, whether KYC documents obtained by the Bank in 2002 in one of the branches is valid for all these branches for the investments done in 2010 or 2012
