📝 One-liners · 66 cards
PMLA
What does PMLA stand for in the context of Indian banking law?
PMLA stands for Prevention of Money Laundering Act, enacted in 2002 and enforced from July 1, 2005, to prevent money laundering and confiscate proceeds of crime.
What is the year of enactment of the Prevention of Money Laundering Act in India?
PMLA was enacted in 2002 and came into force in 2005.
Which authority is the nodal agency for enforcement of PMLA in India?
The Enforcement Directorate (ED) under the Ministry of Finance is the nodal agency responsible for enforcement of PMLA in India.
Which ministry administers the Prevention of Money Laundering Act?
The Ministry of Finance administers PMLA.
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