black money: GK, General Studies and Current Affairs

Swiss Money: India moves down to 77th rank

On June 26, 2020, the Swiss National Bank released its analysis of annual banking statistics. According to the report, India ranked low when it comes to money held by Indian individuals and organizations with the Swiss banks. Highlights The United Kingdom accounted to 27% of total foreign funds held by Swiss banks and ranked first. ..

Amendments in Prevention of Money Laundering Act (PMLA)

The Central Government of India has issued a new notification which stated the changes which have been made in the Prevention of Money Laundering Act (PMLA). What is the Prevention of Money Laundering Act, 2002? The Prevention of Money Laundering Act, 2002 was an Act passed in the Indian Parliament. It was the first enacted ..

Indian Black Money in Swiss Banks Reduces

As per a report made public by the Swiss National Bank (SNB), the money deposited by Indian individuals and enterprises in various Swiss banks has reduced by nearly 6% in 2018 to 955 million Swiss francs (about ?6,757 crore). This is the second-lowest amount observed in 20 years. Indian Money in Swiss Banks As per ..

EC asks Political Parties to Comply with SC s order on Electoral Bonds

In an interim order given by the Supreme Court (SC) in response to petitions filed by the NGO Association for Democratic Reforms (ADR) challenging the electoral bond scheme, the political parties were asked to furnish the details of receipt through Electoral Bonds to the Election Commission (EC). Interim Order of the Supreme Court? Political parties ..