Dear Friends,<\/p>\n
This post is a part of our current affairs series for the UPSC IAS Prelims 2022<\/strong>. In this series, we are covering important current affairs for UPSC Prelims 2022. This post covers all the current affairs linked to important Organizations in news from September, October 2021 and April 2022 months.<\/p>\n <\/p>\n To Read Other Current Affairs Compilations<\/strong> for UPSC Prelims 2022 \u2013\u00a0Click here<\/span><\/strong><\/a><\/p>\n The Enforcement Directorate(ED) has been in the news for summoning people for possible money laundering cases.<\/p>\n It is a\u00a0specialized financial investigation<\/strong>\u00a0agency<\/strong>\u00a0under the\u00a0Department of Revenue<\/strong>, Ministry of Finance.<\/p>\n Headquarters<\/strong>: New Delhi<\/strong><\/p>\n Origin-<\/strong>\u00a0On\u00a01 May 1956, an\u00a0\u2018Enforcement Unit\u2019 was formed, in the Department of Economic Affairs, for handling Exchange Control Laws violations under Foreign Exchange Regulation Act, 1947.<\/p>\n In the\u00a0year 1957, this Unit was\u00a0renamed as \u2018Enforcement Directorate\u2019.<\/p>\n Mandate<\/strong>\u2013 It has been given the task of enforcing the provisions of two special fiscal laws<\/p>\n \u2013 The ED carries out search (property) and seizure (money\/documents) after it has decided that the money has been laundered. On the basis of that, the authorities will decide if the arrest is needed or not.<\/p>\n \u2013 ED can also directly carry out search and seizure without calling the person for questioning. It is not necessary to summon the person first and then start with the search and seizure.<\/p>\n \u2013 If the person is arrested, the ED gets 60 days to file the prosecution complaint (chargesheet) as the punishment under PMLA doesn\u2019t go beyond seven years.<\/p>\n \u2013 If no one is arrested and only the property is attached, then the prosecution complaint along with the attachment order is to be submitted before the adjudicating authority within 60 days.<\/p>\n If an ill-gotten property is acquired before the year 2005 (when the PMLA law was brought in) and disposed off, then there is no case under PMLA.<\/p>\n But if proceeds of the crime were possessed before 2005, kept in cold storage and used after 2005 by buying properties, the colour of the money is still black then the person is liable to be prosecuted under PMLA.<\/p>\n The Government of India\u00a0has reconstituted the\u00a0Economic Advisory Council<\/strong>\u00a0to the Prime Minister<\/strong>\u00a0(EAC-PM) under the leadership of Dr Bibek Debroy for a period of two years after its term came to an end in September 2021.<\/p>\n EAC-PM is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister.<\/p>\n Aim:<\/strong>\u00a0To\u00a0highlight key economic issues facing the country to the government of India from a neutral viewpoint.<\/p>\n Note:\u00a0<\/strong>For administrative, logistic, planning and budgeting purposes, the NITI Aayog serves as the Nodal Agency for the EAC-PM.<\/p>\n To analyze all critical issues, economic or otherwise, referred to by the Prime Minister and advising him thereon.<\/p>\n To address issues of macroeconomic importance and present views thereon.\u00a0This could be either suo-moto or on a reference from the Prime Minister or anyone else.<\/p>\n Composition<\/strong>:\u00a0\u00a0The EAC-PM is chaired by a Chairperson and consists of eminent economists as members.<\/p>\n Reports by EAC-PM:<\/strong>\u00a0It publishes 2 major reports: 1.\u00a0Economic Outlook: It is an annual publication, 2.\u00a0Review of the Economy.<\/p>\n IPC is an Autonomous Institution of the Ministry of Health and Family Welfare, Government of India.<\/p>\n \n","protected":false},"excerpt":{"rendered":" Dear Friends, This post is a part of our current affairs series for the UPSC IAS Prelims 2022. In this series, we are covering important current affairs for UPSC Prelims 2022. This post covers all the current affairs linked to important Organizations in news from September, October 2021 and April 2022 months. To Read Other… Continue reading Organizations in news | Current Affairs Compilation for UPSC Prelims 2022 | Part 2<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[10695],"class_list":["post-183800","post","type-post","status-publish","format-standard","hentry","category-public","tag-current-affairs-compilations-for-prelims-2022","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700785025,"cached_date":1704833839},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/183800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=183800"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/183800\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=183800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=183800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=183800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOrganizations in news<\/span><\/strong><\/h2>\n
\nEnforcement Directorate(ED)<\/span><\/h3>\n
News<\/h5>\n
About Enforcement Directorate(ED)<\/h5>\n
\n
Powers of ED under PMLA Act<\/h5>\n
Retrospective investigation of cases<\/h5>\n
\nEconomic Advisory Council to the Prime Minister(EAC-PM)<\/span><\/h3>\n
What is the News?<\/h5>\n
About the Economic\u00a0Advisory Council to the Prime Minister(EAC-PM)<\/h5>\n
About the Terms of Reference of EAC-PM<\/h5>\n
\nIndian Pharmacopoeia Commission(IPC)<\/span><\/h3>\n
Functions of IPC<\/h5>\n
\n
\n