Black Money Current Affairs - 2019

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Election Commission of India on Electoral Bonds

In an affidavit filed before the Supreme Court, the Election Commission of India has made the following observations: Electoral bonds, contrary to government claims, wreck transparency in political funding. Electoral bonds coupled with the removal of the cap on foreign funding invites foreign corporate powers to impact Indian politics. Electoral bonds would cause a “serious Read More…

Month:  Categories: Constitution & LawUPSC

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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 Read More…

Month:  Categories: Business, Economy & BankingUPSC

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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 Read More…

Month:  Categories: Business, Economy & Banking

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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 Read More…

Month:  Categories: Governance & Politics

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Government to launch Project Insight

The Union Finance Ministry is planning to launch ‘Project Insight’ from October 2017 to monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money. To implement the project government has signed contract with Information Technogolgy major L&T Infotect Ltd.  The project will add to list of Read More…

Month:  Categories: Government Schemes & Projects

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India, Switzerland ink two MoUs in the field of Railways

India and Switzerland have signed two Memorandum of Understandings (MoUs) for exchanging technical cooperation in the field of Railways. They were signed after delegation level talks between Prime Minister Narendra Modi and visiting President of Swiss Confederation Doris Leuthard in New Delhi. They also issued Joint press statement. Signed Pacts MoU between Konkan Railway Corporation Read More…

Month:  Categories: Governance & Politics

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India placed 88th in money hoarded in Swiss banks

As per analysis of the latest figures compiled by the Zurich based SNB (Swiss National Bank) as on 2016-end, India has slipped to the 88th place in terms of money parked by its citizens with Swiss banks. The analysis shows that the money officially held by Indians with banks in Switzerland now accounts for a Read More…

Month:  Categories: Business, Economy & Banking

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