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For an unincorporated association, a beneficial owner holds more than:
A45 per cent
B15 per cent
C25 per cent
D35 per cent
Answer & Solution
Correct answer: B. 15 per cent
1. The test covers property, capital or profits.
2. A body of individuals includes a society.
3. The threshold there is more than 15 per cent.
_Source: Reserve Bank of India (Commercial Banks - Know Your Customer) Directions, 2025_
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