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CS Executive · Economic, Commercial and Intellectual Property Laws · Prevention of Money Laundering

The Central Government constitutes an Inter-ministerial Co-ordination Committee under the PMLA. Which purpose is listed for it in Section 72A?

The Committee is meant for operational co-operation between the Government, law enforcement agencies, the Financial Intelligence Unit, India and regulators or supervisors. It also covers policy co-ordination and AML/CFT policy development, but not adjudication, trials or fixing bank interest rates.

  1. AAdjudicating appeals against attachment orders
  2. BTrying scheduled offences in Special Courts
  3. CFixing the interest rates charged by banks
  4. DOperational co-operation between the Government, law enforcement agencies, the Financial Intelligence Unit, India and regulators or supervisorsCorrect

Explanation

Section 72A lists operational co-operation among the Government, law enforcement agencies, FIU-India and regulators or supervisors, plus policy co-ordination and AML/CFT policy development. Adjudication and trials belong to other authorities, and interest rates are not mentioned.

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