alleryA customer using a deemed OVD must give a current address OVD within:
AEight months
BEleven months
CThree months
DSeven months
Answer & Solution
Correct answer: C. Three months
1. A deemed OVD serves only as proof of address.
2. It buys the customer a short window.
3. The proper OVD is due within three months.
_Source: Reserve Bank of India (Commercial Banks - Know Your Customer) Directions, 2025_
Keep practising Banker-Customer Relationship
Browse all Banker-Customer Relationship questions for IBPS Clerk, or explore more Banking Awareness topics.
Related questions
Match each judicial/tax notice served on a bank with its issuing authority:Match each legal right of a banker with its statutory basis:Match each specialized banking function with its legal status:Match each banking operational transaction with its legal relationship:Pick the right answer, quicklyOrder the steps of opening an accountSpot the one that does not fitFill the gaps in the KYC rules