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DAILY NEWS ANALYSIS

GS-III :
  • 28 June, 2020

  • 3 Min Read

Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG)

EAG Meeting

Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is a regional body comprising nine countries. Members - India, Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Belarus.

It is an associate member of the FATF. Recently India has participated plenary virtual meeting of EAG, under the aegis of the Financial Action Task Force. In the meeting India plans to share more evidence with the key FATF members on the narco-terror cases linked to Pakistan-based syndicates, through which funds are allegedly being supplied to the terrorists operating in Jammu and Kashmir.

FATF is an inter-governmental body to promote effective measures combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. A country is put on the grey list when it fails to curb terrorism financing and money laundering.

Grey list countries - Pakistan, Myanmar, ,Cambodia, Syria, Mongolia and Yemen in Asia along with few other countries. Putting a country on the blacklist means shutting all doors to international finance for that country. Countries - North Korea and Iran.

Source: IE


Sun, Solar Missions & Solar Phenomenon

Sun, Solar Missions & Solar Phenomenon Context: This topic is important for UPSE Prelims and Mains GS Paper3. Aurora An aurora also known as the polar lights or aurora polaris, is a natural light display in Earth's sky, predominantly seen in high-latitude regions (around the Arctic&nb

Changes in the Prompt Corrective Action norms for bank

Changes in the Prompt Corrective Action norms for banks Context: This topic is important for UPSE GS Paper 3. What will commercial banks under scrutiny need to do to get out of the restrictions imposed by the central bank? The story so far: The RBI issued a notification on November 2 revising norms for commercial banks to be placed under t

Study on Countries’ commitment on Climate Change

Study on Countries’ commitment on Climate Change Context: This topic is important for UPSE GS Paper 3. The findings, while optimistic, come amidst the deliberations underway at Glasgow. How effective are climate change pledges made by countries in containing global warming?  A study published Friday in the journal Science fin

National Investment and Manufacturing Zones (NIMZ)

About National Investment and Manufacturing Zones (NIMZ) The Government of India (GoI) has announced a National Manufacturing Policy, 2011, with the objective of enhancing the share of manufacturing in GDP to 25% within a decade and creating 100 million jobs. NIMZs are one of the important instruments to achieve it. As per the Policy, &ldqu

International Financial Services Centre (IFSC)

What is an International Financial Services Centre (IFSC)? An IFSC caters to customers outside the jurisdiction of the domestic economy.  Such centres deal with flows of finance, financial products and services across borders.  London, New York and Singapore can be counted as global financial centres. 

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