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Financial Intelligence Unit (India)
Financial Intelligence Unit – India (FIU-IND) is an organisation under the Department of Revenue, Government of India which collects financial intelligence about offences under the Prevention of Money Laundering Act, 2002. It was set up in November 2004 and reports directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.About FIU-IND from official website Functions The functions of FIU-IND are: #Collection of Information: FIU-IND is the nodal agency for receiving the following reports from various reporting entities. ##Cash Transaction reports (CTRs) ##Non-Profit Organisation Transaction Reports (NTRs) ##Cross Border Wire Transfer Reports (CBWTRs) ##Reports on Purchase or Sale of Immovable Property (IPRs) ##Suspicious Transaction Reports (STRs) #Anal ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Intelligence Unit
Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enforcement and related activities. One of the main purposes of financial intelligence is to identify financial transactions that may involve tax evasion, money laundering or some other criminal activity. FININT may also be involved in identifying financing of criminal and terrorist organisations. Financial intelligence can be broken down into two main areas, collection and analysis. Collection is normally done by a government agency, known as a financial intelligence organisation or Financial Intelligence Unit (FIU). The agency will collect raw transactional information and Suspicious activity reports (SAR) usually provided by banks and other entities as part of regulatory requirements. Data may be shared with other countries through intergov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PayPal
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee. Established in 1998 as Confinity, PayPal went public through an IPO in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015 eBay spun off PayPal to its shareholders, and PayPal became an independent company again. The company was ranked 143rd on the 2022 Fortune 500 of the largest United States corporations by revenue. History Early history PayPal was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Confinity, a company that developed security software for hand-held de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizations Established In 2004
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Additional Secretary To The Government Of India
Additional Secretary (often abbreviated as AS, GoI or Union Additional Secretary or Additional Secretary to Government of India) is a post and a rank under the Central Staffing Scheme of the Government of India. The authority for creation of this post solely rests with Cabinet of India. Additional secretary is mostly a career civil servant, generally from the Indian Administrative Service, and is a government official of high seniority. The civil servants who hold this rank are either from All India Services (on deputation; on tenure, after empanelment) or Central Civil Services (Group A; on empanelment). All promotions and appointments to this rank and post are directly made by the Appointments Committee of the Cabinet. In the functioning of Government of India, an additional secretary is the administrative head of a wing in a department. Additional secretaries — on deputation — can senior positions at the United Nations, like as India's permanent representative to UNESC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Secretary To The Government Of India
Joint Secretary to Government of India (often abbreviated as JS, GoI or Union Joint Secretary or Joint Secretary to Union of India) is a post under the Central Staffing Scheme and the third highest non-political executive rank in Government of India. The authority for creation of this post solely rests with Cabinet of India. Joint secretary is mostly a career civil servant and is a government official of high seniority. The civil servants who hold this rank and post are either from All India Services (on deputation; on tenure, after empanelment) or Central Civil Services (Group A; on empanelment). All promotions and appointments to this rank and post are directly made by the Appointments Committee of the Cabinet of India. In the functioning of Government of India, a joint secretary is the administrative head of a wing in a department. Joint secretaries — on deputation — can hold senior positions at the United Nations, such as India's permanent representative to UNESCO, C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Legal Affairs
The Ministry of Law and Justice in the Government of India is a cabinet ministry which deals with the management of the legal affairs, legislative activities and administration of justice in India through its three departments namely the Legislative Department and the Department of Legal Affairs and the Department of Justice respectively. The Department of Legal Affairs is concerned with advising the various Ministries of the Central Government while the Legislative Department is concerned with drafting of principal legislation for the Central Government. The ministry is headed by Cabinet Minister of Law and Justice Kiren Rijiju appointed by the President of India on the recommendation of the Prime Minister of India. The first Law and Justice minister of independent India was Dr. B. R. Ambedkar, who served in the Prime Minister Jawaharlal Nehru's cabinet during 1947–51. History Ministry of law and justice is the oldest limb of the government of India dating back to 1833 wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Board Of India
The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992. History Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market. It became an autonomous body on 30 January 1992 and was accorded statutory powers with the passing of the SEBI Act 1992 by the Indian Parliament. SEBI has its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad respectively. It has opened local offices at Jaipur and Bangalore and has also opened offices at Guwahati, Bhubaneshwar, Patna, Kochi and Chandigarh in Financial Year 2013 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India). RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Board Of Indirect Taxes And Customs
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sri Lank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Board Of Direct Taxes
Taxes in India are levied by the Central Government and the State Governments by virtue of powers conferred to them from the Constitution of India. Some minor taxes are also levied by the local authorities such as the Municipality. The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Union Government and the State Governments. An important restriction on this power is Article 265 of the Constitution which states that "No tax shall be levied or collected except by the authority of law". Therefore, each tax levied or collected has to be backed by an accompanying law, passed either by the Parliament or the State Legislature. Nonetheless, tax evasion is a massive problem in India, ultimately catalyzing various negative effects on the country. In 2019–20, the Direct tax collections reported by CBDT were approximately INR 12.33 trillion. History India has abolished multiple taxes with passage of time and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lakh
A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For example, in India, 150,000 rupees becomes 1.5 ''lakh'' rupees, written as 1,50,000 or INR 1,50,000. It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka. It is often used in Bangladeshi, Indian, Pakistani, and Sri Lankan English. Usage In Indian English, the word is used both as an attributive and non-attributive noun with either an unmarked or marked ("-s") plural, respectively. For example: "1 ''lakh'' people"; "''lakhs'' of people"; "20 ''lakh'' rupees"; "''lakhs'' of rupees". In the abbreviated form, usage such as "5L" or "5 lac" (for "5 ''lakh'' rupees") is common. In this system of numeration, 100 ''lakh'' is called one '' crore'' and is equa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
