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Annual activity certificate

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(Querist)
20 December 2013 What is AAC ? When we have to obtain ? Why we have to submit it to bank ?
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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
20 December 2013 it is a certificate required under RBI regulation to be submitted to the RBI annually. This certificate is to ensure that the LO/BO has done only those activities as approved by RBI.

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