Definition of “payment system” in PSS Act and PMLA are standalone and should not be linked: In light of PayPal’s argument that it is not considered a “payment system” operator under the ...

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Non-profit organisations (NPOs) will now face intense scrutiny under the Prevention of Money Laundering Act (PMLA) as the Finance Ministry has now brought two key changes in rules related to ...

Also, the ministry modified the definition of ownership in virtual assets. ... and others, will be subjected to the Prevention of Money Laundering Act of 2022 (PMLA).

Govt tightens PMLA rules, fine-tunes definition of reporting entity. Changes bring more power to agency, widen scope of individuals under ambit of Act. New rules require disclosure of status of ...

The amendment brings the PMLA in conformity with the Companies Act and all other rules on defining beneficial ownership with 10% shareholding. Earlier, under PMLA, beneficial ownership was ...

A provisional order for attaching the assets was issued on January 25 under the Prevention of Money Laundering Act (PMLA), the federal agency said in a statement. RBI revises definition of ...

The definition of a non-profit organisation has been amended and linked to the definition of charitable purpose provided under Section 2 (15) of the Income Tax Act, 1961. "The newly extended ...

New Delhi [India], March 6 (ANI): The Supreme Court on Thursday adjourned a hearing on a plea that challenged the constitutional validity of various provisions of the Prevention of Money ...

The Supreme Court has deferred the hearing on a petition challenging the constitutional validity of the PMLA Act. The case, filed by Karti Chidambaram, will be heard at a later date.