Facts for Prelims (FFP) Source: IE Context: The Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (PMLA) has confirmed the attachment of assets belonging to the Congress party-promoted National Herald newspaper. What is Adjudicating Authority under PMLA, 2002? The Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (PMLA) is …
GS Paper 3 Syllabus: Internal Security Source: TH Context: The article discusses the Prevention of Money Laundering Act (PMLA), which was initially aimed at combating the laundering of drug money but has expanded to include various unrelated offences over time. Recently, the Punjab and Haryana High Court clarified that courts can release an …
Continue reading “Prevention of Money Laundering Act (PMLA): Importance and Concerns”
GS Paper 2 Syllabus: Statutory bodies Source: TH Context: The Madras High Court upheld the legality of Tamil Nadu Minister V. Senthilbalaji’s arrest by the Enforcement Directorate (ED) in a money-laundering case linked to a cash-for-jobs scam. HC observations in the case: ED can subject any person accused in a case booked …
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to …
Continue reading “[Mission 2024] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 10 July 2023”
GS2/GS3 Syllabus: Statutory bodies/ Money Laundering Source: IE Context: The question of the Enforcement Directorate (ED) chief’s tenure is back in the Supreme Court of India. Explaining the issues: The tenure for directors of CBI and ED is two years. However, in November 2021, the President promulgated two ordinances allowing the Centre to extend …
Source: BS Context: To further tighten its control of practising accountants, the Centre has brought within the ambit of the PMLA their “financial transactions”. What are the new rules? Chartered accountants, company secretaries, etc., will now be required to go through the Know Your Company (KYC) process before commencing work. This implies …
Continue reading “Prevention of Money Laundering Act (PMLA)”
GS Paper 3 Syllabus: Money laundering-related issues Source: IE Context: The Finance Ministry has amended the Prevention of Money Laundering Act (PMLA) and rules in line with the recommendations of the FATF – the global money laundering and terrorist financing watchdog. Background: The government has been struggling to deal with the pandemic-era upsurge …
Continue reading “Amendments to PMLA rules and its impact on ‘politically exposed persons’, NGOs”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 09 March 2023”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 07 March 2023”
GS Paper 3: Syllabus: Important Security Agencies. Context: Congress MP Rahul Gandhi recently appeared before the Enforcement Directorate for the second day for questioning in a money-laundering case related to the National Herald newspaper. About Enforcement Directorate: The origin of this Directorate goes back to 1st May, 1956, when an ‘Enforcement Unit’ …
