why did bank needs so many details of its customer?
Answers
Answered by
51
Banks needs so many details about its customers because the bank is supervised by the Reserve bank of India (RBI) if they don't take details about costumer the customer can do cheatting with banks by not repaying loan..so,banks have to take all the details about their customers.......
Answered by
15
The bank has to be sure that the customer is not a frawd or cheat. The money deposited or withdrawn should be legal. The government has to be notified about various things. Letters have to be sent to the customers home/office or some information given to him about the transaction in his account. For all these reasons, the bank needs many details of its customer
Please mark as Brainliest
Similar questions