Learn bits
Polity & Governance
Mahesh

15/06/22 14:04 PM IST

Enforcement Directorate

In News 
  • After two consecutive days of questioning in the National Herald money laundering case, Congress leader Rahul Gandhi appeared again on recently before the Enforcement Directorate (ED).
About Enforcement Directorate 
  • The origin of this Directorate goes back to 1st May, 1956, when an ‘Enforcement Unit’ was formed, in the Department of Economic Affairs, for handling Exchange Control Laws violations under Foreign Exchange Regulation Act, 1947 (FERA ’47).
  • In the year 1957, this Unit was renamed as ‘Enforcement Directorate’.
  • Presently, it is part of the Department of Revenue, Ministry of Finance.
  • The Organization is mandated with the task of enforcing the provisions of two special fiscal laws – Foreign Exchange Management Act, 1999 (FEMA) and Prevention of Money Laundering Act, 2002 (PMLA).
Source-PIB

More Related Current Affairs View All

22 Jan

Maha Kumbh: A confluence of faith and culture

'Kumbh, derived from a Sanskrit word which means a pitcher, is rotationally held every three years at the four riverside cities of Prayagraj, Haridwar, Ujjain and Nasik' The A

Read More

22 Jan

TRAI combating spams

'The Telecom Regulatory Authority of India (TRAI) will be using distributed ledger technology (DLT) to register spam preferences from customers.' In order to fight the deluge of

Read More

22 Jan

Status of the Smart Cities Mission

'Almost a decade has passed since the Indian government announced the concept of “smart cities” as the new lighthouses of urbanisation.' The June 2015 announcement o

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps