IMPORTANT INFORMATION REGARDING BANKING IFSC : • The full form of IFSC is – Indian Financial System Code • How many digits are contained in IFSC – 11 • The first four characters represent the – bank code • The 5th character of a IFSC code is - zero • The last 6 characters represent the – bank branch code • The IFSC code facilitates - uniquely identifies a bank-branch participating in the NEFT system KYC : • The full form of KYC is – Know Your Customer • KYC was introduced by – RBI • RBI introduced KYC guidelines for all banks in the year - 2002 • The components of KYC – Identity proof , address proof , photographs • The objective of KYC guidelines is – to prevent banks from criminal money laundering activities • KYC day is celebrated on – First working day of august every year NEFT : • The full form of NEFT is – National Electronic Fund Transfer • The minimum limit that could be transferred using NEFT – No Limit • The maximum limit that could be transferred using NEFT – No Limit • Can remittances be sent abroad using NEFT- No(except Nepal under the Indo-Nepal Remittance Facility Scheme) • Can NEFT be used to transfer funds from / to NRE and NRO accounts-Yes • Maximum amount per transaction for cash-based remittances to Nepal is limited to -Rs.50,000/- Share if useful
Posted on: Mon, 02 Dec 2013 09:31:37 +0000
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