{"id":7557,"date":"2024-07-09T17:39:43","date_gmt":"2024-07-09T17:39:43","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=7557"},"modified":"2025-01-15T19:25:32","modified_gmt":"2025-01-15T19:25:32","slug":"financial-action-task-force","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/financial-action-task-force\/","title":{"rendered":"Financial Action Task Force adopts Mutual Evaluation Report"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7560\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/faft.png\" alt=\"Financial Action Task Force \" width=\"915\" height=\"553\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/faft.png 806w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/faft-300x181.png 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/faft-768x464.png 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/faft-800x483.png 800w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69db3f861c190\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69db3f861c190\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/financial-action-task-force\/#Financial_Action_Task_Force_adopts_Mutual_Evaluation_Report_of_India\" title=\"Financial Action Task Force adopts Mutual Evaluation Report of India\">Financial Action Task Force adopts Mutual Evaluation Report of India<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/financial-action-task-force\/#RBI_Updates_Limits_for_Small_Value_Digital_Payments_in_Offline_Mode\" title=\"RBI Updates Limits for Small Value Digital Payments in Offline Mode!\u00a0\">RBI Updates Limits for Small Value Digital Payments in Offline Mode!\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/financial-action-task-force\/#Important_Financial_Limit_in_2025_for_UPI_and_other_transactions\" title=\"Important Financial Limit in 2025 for UPI and other transactions\">Important Financial Limit in 2025 for UPI and other transactions<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/financial-action-task-force\/#New_Transaction_Limits\" title=\"New Transaction Limits:\">New Transaction Limits:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Action_Task_Force_adopts_Mutual_Evaluation_Report_of_India\"><\/span><span style=\"color: #333399;\"><strong>Financial Action Task Force <\/strong><strong>adopts Mutual Evaluation Report of India<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>India&#8217;s success in Mutual Evaluation conducted by the FATF is indeed significant. The FATF (Financial Action Task Force) is in charge of global efforts to combat money laundering, terrorism, and proliferation financing. India&#8217;s placement in the &#8216;regular follow-up category&#8217; in the Financial Action Task Force &#8211; Mutual Evaluation Report reflects its significant progress in strengthening its financial system against money laundering and terrorist financing. Details is here under :<\/p>\n<ul>\n<li>The report was adopted during the Financial Action Task Force plenary held from June 26th to 28th, 2024, in Singapore. Being placed in the &#8216;regular follow-up&#8217; category by FATF indicates that India has robust anti-money laundering &amp; counter-terrorist financing measures in place. This status is noteworthy, as only a few G20 countries share this distinction.<\/li>\n<li>India&#8217;s proactive measures in combating money laundering and terrorist financing have been recognized. This includes the transition from a cash-based to a digital economy, which helps in making financial transactions more traceable and reducing associated risks.<\/li>\n<li>Financial Action Task Force, established in 1989, is an intergovernmental organization focused on combating money laundering, terrorist financing, and other threats to the integrity of the international financial system. India has been a member since 2010.<\/li>\n<li>The Jan Dhan, Aadhaar, Mobile has been instrumental in increasing financial inclusion and promoting digital transactions. These efforts have contributed significantly to mitigating risks associated with money laundering and terrorist financing.<\/li>\n<li>According to the Finance Ministry, this distinction is shared by only four other G20 countries, highlighting India&#8217;s efforts in mitigating money laundering and terrorist financing risks, transitioning to a digital economy, and implementing the Jan Dhan, Aadhaar, Mobile.<\/li>\n<li>The positive evaluation by Financial Action Task Force is expected to enhance India&#8217;s access to global financial markets, boost investor confidence, and support the international expansion of the UPI. India&#8217;s strong performance in the FATF evaluation is expected to yield significant economic benefits, such as improved access to global financial markets and increased investor confidence. Additionally, it will aid in the global expansion of the UPI.<\/li>\n<li>India&#8217;s commitment to international AML\/CTF standards sets a benchmark for other countries in the region, highlighting its leadership role in ensuring the stability and integrity of the global financial system.<\/li>\n<li>The success in the mutual evaluation process is attributed to the collaborative efforts of various Indian ministries, regulatory bodies, and financial institutions. This underscores the importance of coordinated actions in achieving significant milestones in financial regulation and security.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7547\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/11\/MF.jpg\" alt=\"Mutual funds\" width=\"920\" height=\"1227\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/11\/MF.jpg 828w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/11\/MF-225x300.jpg 225w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/11\/MF-768x1024.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/11\/MF-800x1067.jpg 800w\" sizes=\"(max-width: 920px) 100vw, 920px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"RBI_Updates_Limits_for_Small_Value_Digital_Payments_in_Offline_Mode\"><\/span><span style=\"color: #000080;\"><strong>RBI Updates Limits for Small Value Digital Payments in Offline Mode!\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Reserve Bank of India has made significant amendments to the framework for facilitating small-value digital payments in offline mode, including UPI Lite transactions. Here\u2019s what you need to know:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Important_Financial_Limit_in_2025_for_UPI_and_other_transactions\"><\/span><span style=\"color: #000080;\"><strong>Important Financial Limit in 2025 for UPI and other transactions<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8451\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001.jpg\" alt=\"Important Financial Limit in 2025\" width=\"1529\" height=\"1936\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001.jpg 1529w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001-237x300.jpg 237w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001-809x1024.jpg 809w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001-768x972.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001-1213x1536.jpg 1213w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Important-Financial-Limit-in-2025_page-0001-800x1013.jpg 800w\" sizes=\"(max-width: 1529px) 100vw, 1529px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"New_Transaction_Limits\"><\/span><span style=\"color: #000080;\"><strong>New Transaction Limits:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u2022 INR 1,000 per transaction (previously INR 500).<\/p>\n<p>\u2022 INR 5,000 total limit at any point in time (up from INR 2,000).<\/p>\n<ul>\n<li>Why This Matters: These changes aim to enhance the adoption of UPI Lite and offline digital payments, offering more convenience for users even in areas with limited internet connectivity.<\/li>\n<li>Immediate Effect: The updated limits are effective immediately as per the Payment and Settlement Systems Act, 2007.\u00a0This is another step by the RBI to boost digital financial inclusion across India!<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Financial Action Task Force adopts Mutual Evaluation Report of India India&#8217;s success in Mutual Evaluation conducted by the FATF is indeed significant. The FATF (Financial Action Task Force) is in charge of global efforts to combat money laundering, terrorism, and proliferation financing. India&#8217;s placement in the &#8216;regular follow-up category&#8217; in the Financial Action Task Force &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[695],"tags":[1091],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7557"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=7557"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7557\/revisions"}],"predecessor-version":[{"id":8452,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7557\/revisions\/8452"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=7557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=7557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=7557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}