Weekly Current Affairs

Notice

  • The Enforcement Directorate (ED) conducted searches at 40 places across the country in order to check black money held with currency exchanges, hawala dealers and others in wake of the demonetisation of Rs. 500 and Rs. 1000 notes.
  • ED was looking at instances of illegal exchange of old currency & stashing away of new currency to perpetrate activities such as hawala and money laundering.
  • The ED is the central agency to enforce two laws — the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).