Question
Under the PMLA, the offence of money laundering can
attract proceedings even where the proceeds of crime are held in which form?Solution
Under the Prevention of Money Laundering Act, proceeds of crime include any property derived from criminal activity relating to a scheduled offence, whether held within India or abroad, and where such property is taken or held outside the country, property equivalent in value held within India may be attached. This wide reach ensures that offenders cannot escape the Act by holding proceeds in different forms or jurisdictions. It strengthens the ability of the authorities to trace and confiscate criminal proceeds.
The old name of Axis Bank is?
Which of the following instruments is considered an alternative to cash in the Indian payment system?
Countries were not eligible for membership in the International Bank for Reconstruction and Development (IBRD) unless they were members of the ______.
India is commited towards climate change and pledge to become carbon neutral by ______?
Securities and Exchange Board of India (SEBI) was given statutory powers on which of the following year?
What is the full form of UPI in the context of banking in India?
What is the ceiling on amount of Insured deposits kept by one person in different branches of a bank?
The Indian government has raised the windfall tax on petroleum crude to _______ per metric ton from zero.
SCORES 2.0 is the complaint redress mechanism of which regulatory body?
What is a key change introduced by the RBI in norms for settlement of dues by Asset Reconstruction Companies (ARCs)?
