Page-2 of black money Current Affairs, GK & News

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 ..

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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 ..

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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 and Rs 1,000 notes; check the circulation of fake currency and promote e-payments and financial ..

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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 regard, DoR has issued an official gazette notification making an amendment to Prevention of Money-laundering ..

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Ministry of Corporate Affairs, CBDT ink MoU for Automatic and Regular Exchange of Information

The Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT) have signed Memorandum of Understanding (MoU) for automatic and regular exchange of tax information. The purpose of the MoU is to curb the menace of shell companies, money laundering and black money in the country and prevent misuse of corporate structure by ..

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