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    Question

    Who is the designated authority to receive information

    under the reporting requirements of the PML (Maintenance of Records) Rules, 2005?
    A The Governor of the Reserve Bank of India Correct Answer Incorrect Answer
    B The Director of Financial Intelligence Unit - India (FIU-IND) Correct Answer Incorrect Answer
    C The Finance Secretary of India Correct Answer Incorrect Answer
    D The Chief Vigilance Officer of the concerned entity Correct Answer Incorrect Answer
    E The Chairman of SEBI Correct Answer Incorrect Answer

    Solution

    Under the PML (Maintenance of Records) Rules, 2005, Reporting Entities (REs) such as banks, financial institutions, and intermediaries are required to furnish specified transaction details to the Director, FIU-IND. • These include suspicious transactions, cash transactions above thresholds, and other prescribed reports as per Rule 3. • The Director, FIU-IND also issues guidelines on the form, manner, and timelines for reporting. • This framework ensures effective monitoring, detection, and prevention of money laundering activities in India. Thus, the authority designated to receive such information is the Director of FIU-IND.

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