Discussion
RBI has restricted Indian entities from making investments in non cooperative countries and territories as per _________
Answer: A
Correct answer: FATF
The Financial Action Task Force is the inter-governmental body that sets standards against money laundering and terrorist financing, and it publishes lists of jurisdictions with strategic deficiencies in their regimes.
The RBI restricted Indian entities from investing in countries and territories identified by FATF as non-cooperative, so that Indian capital does not flow into jurisdictions where the source and destination of funds cannot be traced. Compliance also protects Indian banks' own correspondent relationships, which depend on their counterparties' confidence in their controls.
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