UPSC GK Questions 2026

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.

The Rajabai Clock Tower in the University of Mumbai campus, designed by Sir George Gilbert Scott and completed in 1878, is a Victorian Gothic tower modelled on the Big Ben clock tower in London, with pointed arches, stained glass and carved figures.

The Amba Vilas Palace, the Mysore Palace of the Wadiyar rulers, was rebuilt in grey granite and pink marble to the design of Henry Irwin after the old wooden palace burned down in 1897, and the work was finished in 1912.

George V and Queen Mary came to India in December 1911 and at the Delhi Durbar announced both the transfer of the capital from Calcutta to Delhi and the reversal of the partition of Bengal of 1905.

The India Gate, originally the All India War Memorial Arch, was designed by Edwin Lutyens as a memorial to the Indian soldiers of the British Indian Army who died in the First World War between 1914 and 1921 and in the Third Anglo-Afghan War.

Fort Dansborg was built in 1620 at Tranquebar, now Tharangambadi in the Mayiladuthurai district of Tamil Nadu, after the Danish East India Company obtained the site from the Nayak ruler of Thanjavur.

The Basilica of Bom Jesus at Old Goa was completed in 1605 by the Portuguese, who had taken Goa in 1510 and made it the capital of their eastern empire.

Sir Herbert Baker designed the old Parliament House, then called the Council House, which was begun in 1921 and opened in January 1927 by the Viceroy Lord Irwin.

Sir Edwin Lutyens designed the Viceroy House on Raisina Hill, renamed Rashtrapati Bhavan after independence, and it was completed in 1929.

The station, built as Victoria Terminus and designed by Frederick William Stevens, is the finest Victorian Gothic Revival building in India, with pointed arches, a ribbed central dome, turrets, stained glass, gargoyles and a stone figure of Progress on the dome.