GkSeries.com

Q.

Many times we read about ‘Hawala’ transactions in newspapers. Hawala, in India, is prohibited under the provision of which of the following Acts?

[A] Financial Action Task Force Act
[B] Fiscal Responsibility and Budget Management Act
[C] Foreign Exchange Management Act
[D] Banking Regulation Act
[E] None of the above

Answer & Explanation

Answer: Option [C]

Click Here to Read more questions