Sign In
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

20 Dec

National Quantum Mission

'National Quantum mission be implemented by the Department of Science & Technology (DST) under the Ministry of Science & Technology.' The mission planned for 2023-2031 a

Read More

20 Dec

First-ever satellite tagging of a Ganges dolphin

'The first ever Ganges river dolphin (Platanista gangetica) was tagged in Assam is being deemed as a historic milestone for Project Dolphin, the movement aimed towards conserving I

Read More

19 Dec

Parliamentary Standing Committee recommendations on MSP

'A parliamentary committee  has recommended implementing a legal guarantee on Minimum Support Price, amid a slew of measures to improve farmers’ welfare.' The Parli

Read More

India’s First Ai-Driven Magazine Generator

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