......However, bankers should conform to the norms laid down by the RBI while issuing such cards. The RBI has asked banks to follow board-approved policies. Strict compliance with KYC (know your customer) norms, AML (anti-money laundering) standards, CFT (combating of financing of terrorism) and obligation of banks under PMLA (Prevention of Money Laundering Act) is a must, the banking regulator said.......
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