Banking GK Questions 2026

The Fugitive Economic Offenders Act of 2018 applies where a warrant of arrest has been issued for a scheduled offence involving a value of one hundred crore rupees or more and the person has left India to avoid prosecution, or refuses to return to face it.

The Financial Intelligence Unit India works under the Department of Revenue in the Ministry of Finance and reports to the Economic Intelligence Council, the apex body on economic offences, which is chaired by the Union Finance Minister.

The Financial Action Task Force was set up in 1989 at the summit of the Group of Seven industrial countries held in Paris, and its secretariat is housed at the headquarters of the Organisation for Economic Co-operation and Development in Paris.

Section 12 requires every reporting entity to maintain a record of all transactions of the prescribed nature and value for a period of five years from the date of the transaction between the client and the entity, and to maintain records of the identity of its clients for five years…

Section 5 allows the Director or an authorised officer, on reasons to be recorded in writing, to attach property believed to be the proceeds of crime provisionally for a period of one hundred and eighty days.

Section 4 provides that whoever commits the offence of money laundering shall be punishable with rigorous imprisonment for a term of not less than three years, which may extend to seven years, and with a fine.

The rules require a reporting entity to furnish a suspicious transaction report to the Financial Intelligence Unit not later than seven working days from the date on which it is satisfied that the transaction is suspicious.

Under the Prevention of Money-laundering Maintenance of Records Rules of 2005, a reporting entity must report all cash transactions of a value of more than ten lakh rupees, or their equivalent in foreign currency, and all series of integrally connected cash transactions that together exceed that amount within a month.

The Financial Intelligence Unit India was set up by the Government of India in November 2004 as the central national agency to receive, process, analyse and disseminate information about suspect financial transactions.

The Directorate, which works under the Department of Revenue in the Ministry of Finance and traces its origin to the Enforcement Unit set up on the first of May 1956, registers cases under the Act, attaches property provisionally, arrests, and files prosecution complaints in the Special Court.

The Prevention of Money Laundering Act was passed by Parliament in 2002 and is numbered as an Act of that year, but it was brought into force only on the first of July 2005, together with the Prevention of Money-laundering Maintenance of Records Rules of 2005, which set out the…

Placement comes first because the criminal must get cash into the financial system, which he does through small deposits, the purchase of bearer instruments or by mixing the cash with the takings of a shop or a petrol pump.

New Delhi hosted the tenth edition of the Hockey World Cup in 2010 at the stadium named after Major Dhyan Chand, the same ground that had been built for the first Asian Games in 1951; Australia won that tournament.

Built in Uttar Pradesh near Delhi, the Buddh International Circuit held the Indian Grand Prix in 2011, 2012 and 2013, after which the race was dropped from the calendar; Sebastian Vettel won all three editions.

The Afro-Asian Games were conceived to bring together the medal winners of Africa and Asia, and the single edition that was actually staged was held at Hyderabad in 2003, mainly at the Gachibowli Stadium.

The forty fourth Chess Olympiad was held in 2022 at Mahabalipuram in Tamil Nadu, the first time the event came to India and the first time it was held in Asia in several decades.

The 2018 Hockey World Cup was played at the Kalinga Stadium in Bhubaneswar, and the 2023 edition was shared between the Kalinga Stadium and the newly built Birsa Munda Stadium at Rourkela, both in Odisha.

England beat Spain in the final at the Salt Lake Stadium in Kolkata to win the 2017 Under-17 World Cup, the first FIFA tournament of any kind staged in India.

India beat Sri Lanka in the final of the 2011 World Cup at the Wankhede, with Mahendra Singh Dhoni finishing the match with a six and Gautam Gambhir making the highest score of the innings.

The first three World Cups of 1975, 1979 and 1983 were all played in England, and the 1987 tournament, sponsored as the Reliance Cup, moved the event to the subcontinent for the first time; the overs were reduced from sixty to fifty, which has remained the standard since.