Current Affairs – February, 2020

This section is a feed of Current Affairs February, 2020 comprising all Current Affairs National and International importance published in february, 2020 Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

PDF Compilation of these updates can be downloaded from This Link

China moves against Pakistan in FATF, Turkey now the only supporter

China has joined India and United States in putting Pakistan on Grey list of the FATF (Financial Action Task Force). Both China and Saudi Arabia have joined US, India and other European countries sending stern messages to Pakistan against its actions of terror funding money laundering

Highlights

A Plenary session of the FATF is to be held in June 2020. China, Saudi Arabia and Turkey were the three countries that supported Pakistan against FATF move in putting Pakistan under Grey List. Now Turkey and Malaysia are the only supporters. 12 out of 39 votes are required to move out of FATF list which Pakistan will not be able to.

Pakistan is currently on Grey List of FATF and with its major supporters withdrawing their backing, Pakistan will continue to remain on FATF Grey list. Pakistan was put on the list in June 2018. It was given a plan of action which the country was supposed to complete by October 2019. Failing of which will place it under black list.

FATF Grey List and Black List

The FATF is a Paris based organization that combats terrorism funding and money laundering.

Grey List

The countries that are not safe and are supporting money laundering and terror funding are included in the list.

Black List

The countries that is uncooperative tax havens for terror funding. They are also called Non-Cooperative Countries or Territories (NCCTs).

Countries currently in Black List and Grey List

The lists now have been renamed to “Call for Action” and “Monitored Jurisdiction”. The Call for Action countries or the Black List Countries include Iran and North Korea.

The Monitored Jurisdiction or Grey List include Iceland, Ghana, Botswana, Syria, Yemen, Pakistan, Mongolia and Cambodia.

The above lists are updates as of February 20, 2020.

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22nd Law Commission of India approved by the Union Cabinet

On February 19, 2020, the Union Cabinet approved the 22nd Law Commission of India. The commission has been approved for a period of three years.

Highlights

The 22nd Law Commission will consist of a full time Chairperson. It has four full time members. Also, secretaries from Department of Legal Affairs and Legislative department.

Law Commission of India

It is a non-statutory body that is constituted by the GoI from time to time. It was constituted in 1955 for the first time. Since then it has been reconstituted for every 3 years. So far, the Law Commission of India has submitted 277 reports.

Benefits

The Law Commission will make recommendations based on the aspects of laws entrusted upon it. It will undertake research works and suggest reforms that are essential to enact new legislations.

Functions

The functions and objectives of the Law Commission are as follows

  • To identify laws that shall be repealed immediately
  • To examine the current laws in force and suggest ways to improve them
  • To respond to requests made by other countries in framing their legal system
  • To make measures that shall help to serve the poor legally
  • To revise laws to simplify them.

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