Page-2 of black money
India gets first tranche of Swiss account details
Under the new Automatic Information Exchange pact, India received its first tranche of Swiss Bank Account details. India hence is legally one among 75 countries with which the Switzerland Federal Tax Administration (SFTA) has exchanged information. The next exchange of ..
Month: Current Affairs - October, 2019
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 ..
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 ..
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 ..
RBI replies to RTI regarding Demonetisation
The minutes of meeting which had approved the demonetisation of Rs 500 and Rs 1000 currency notes has been revealed through RTI. The government had contested that demonetisation would help curb black money and a steep rise in Rs 500 ..
Month: Current Affairs - March, 2019
Government makes mandatory for Banks to match original IDs with photocopies
The Department of Revenue (DoR), Finance Ministry has made it mandatory for banks and financial institutions to check original identification documents of individuals dealing in cash above prescribed threshold to weed out use of forged or fake copies. In this ..