The Hindu Editorial Analysis : 2nd April 2024

The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

The Prevention of Money Laundering Act

• The Prevention of Money Laundering Act was enacted in 2002 to fulfill a distinct objective to curb the black money in the India economy.
• Many countries around the world are facing a great threat as drug trafficking has become one of the suitable options for the humongous amount of black money generation.
• There are many evidence from the past that claim the black money is generated from the Drug trade and then integrated these Drug trades into a legitimate economy. This threatens the legitimacy and Sovereignty of many nations.
• To curb the operations of illegal Drug trafficking and prevent the economies from black money,in 1988, the United Nations held a Convention against Illegal Traffic in Narcotic Drugs and Psychotropic Substances.
• To address the problem of money laundering, in 1989, seven major economies of the world came together and held a summit in Paris to establish the Financial Action Task Force (FATF).
• After that, one more step taken by the United Nations when they adopted a resolution, The Political Declaration and Global Programme of Action.
• To pursue this resolution, Government of India decided to formulate a legislation to prevent money laundering by using the recommendations of FATF.
• In 1998, the United Nations again held a spacial session on money laundering and the theme of that session was “Countering World Drug Problem Together”.
• After that the Indian government enacted the Prevention of Money Laundering Act under the article 253 and item 13 in the Union list of seventh schedule, in 2002,and came into affect in 2005.
• Article 253 states that it can make laws for implementing the International Convention.
• This Act has been gone through various amendments at different times.
• One of the disturbing and negative thing about this Act is that the accused under this Act is presumed to be guilty until he proved innocent. Although the fundamental principal of jurisprudence is that an accused person is presumed innocent until proven guilty.
• The bail under this law only can be granted when the judge is Satisfied that the accused is innocent. Which judge would want to take that risk??

Important Questions:

• What is the Prevention of Money Laundering Act in India?
• What is the background of the Prevention of Money Laundering Act in India?

Important vocabs:

• Adjunct– a thing added to something else as a supplementary rather than an essential part.
• Agility– ability to move and think quickly and easily.
• Grist– grain or a batch of grain for grinding
• Metamorphosed– having undergone metamorphosis, especially into the adult form.
• Vertex– the top of the head.

Download Online Mock Test Mobile APP

• Join Official Telegram Channel
• Join Official Whatsapp Group

Recommended PDF’s for 2024:

• Computer Capsule 2024 : Download PDF
• Banking Awareness (Theory+MCQ’s) Complete PDF : Download Now
• Get FREE Study Materials & PDFs for IBPS , RBI, SBI, LIC AAO , LIC Assistant, NIACL & Other Exams Over the mail and Whatsapp