New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The recent amendment in the Prevention of

    Money-Laundering Act, 2002, by the Ministry of Finance aims to expand the scope of the Act to include a broad spectrum of transactions related to:
    A Real Estate Correct Answer Incorrect Answer
    B Precious Metals Correct Answer Incorrect Answer
    C Virtual Digital Assets Correct Answer Incorrect Answer
    D Foreign Exchange Correct Answer Incorrect Answer
    E Agricultural Commodities Correct Answer Incorrect Answer

    Solution

    The Ministry of Finance has notified an amendment in Prevention of Money-Laundering Act, 2002. The amendment aims to expand the scope of the Act to cover a wide range of cryptocurrency or virtual digital assets (VDA) transactions under the purview of PMLA, 2002. 

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