[Solved] What is the purpose of KYC in banking?

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Q.	What is the purpose of KYC in banking?
A.	It is used for customer identification
B.	It is used for increasing the CRR of banks
C.	It is used against money laundering
D.	It is used by the central bank to control liquidity
E.	Both (a) and (c)
Answer» E. Both (a) and (c)

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