Start learning 50% faster. Sign in now
Money Laundering is the process through which black money is converted into white money i.e. legitimate money. Such funds are used for various anti-social activities such as terrorism etc. In order to prevent that, the PMLA Act was passed in the year 2002 and it has the authority to also seize property obtained from the illegal money. It came into force in 2005. The PLMA has been amended three times, that is, in 2009, 2009 and 2012. The provisions of this act are applicable to all financial institutions, banks (Including RBI), mutual funds, insurance companies, and their financial intermediaries.
P rime Minister Narendra Modi inaugurated initiatives worth nearly Rs 5,000 crore for boosting the agri-economy in which region?
Consider the following Statements and choose the Option with Correct Statements.
I- The Union Cabinet approved Vibrant Villages Programme that...
Which of the following statements about life insurance in India is/are incorrect?
1) The Life Insurance Corporation of India (LIC) was establi...
Which of the following statements is/are correct regarding Derivatives in India?
According to the Union Budget 2023-24, consider the following statements.
1.The IMF has projected global growth to slow from 6.2 percent in 202...
Which among the following is a numerical measurement that is used to predict the chances of a business going bankrupt in the next two years.
Consider the following statements with reference to the IFSCA Act:
1)The IFSCA Act provides for the establishment of an IFSC Authority Fund, whic...