State Bank of India (SBI) is willing to work with Russian banks not facing sanctions and remain on the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network to open a special rupee vostro account (SRVA) for invoicing in Indian currency. The country's largest lender in a statement said it has not been identified as the nodal bank for handling Russia-related transactions. In July, the Reserve Bank of India (RBI) allowed banks in India, including SBI, to open an SRVA to promote invoicing in Indian rupee, subject to certain safeguards. Accordingly, the bank in a statement said it is "making necessary arrangements and processing requests received from various banks, including Russian banks", following guidelines laid out by the RBI.
The 1984-batch IRS officer was otherwise to remain in office till November 18, 2023, according to the notification issued by the government.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
Days after the Supreme Court held as "illegal" the extension of ED Director Sanjay Kumar Mishra's tenure, the Centre on Wednesday moved the apex court seeking modification of its order to allow him to continue in office till October 15 in view of the ongoing FATF review.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
Sources stated that a discussion is likely on the changed geopolitical situation in wake of the Taliban taking over Afghanistan and the drawdown of the US forces from the region.
The Supreme Court on Thursday extended the tenure of Enforcement Directorate chief Sanjay Kumar Mishra till September 15 midnight in larger "public and national interest" after the Centre asserted his continuity is necessary in view of the ongoing FATF peer review and attempts by India's neighbours to ensure the country falls in the grey list.
The launchpads across the Line of Control in Kashmir valley are abuzz with activity, with around 60 to 80 terrorists, believed to be Afghan returnee mercenaries, receiving training with a possible push expected during summer months, officials in Srinagar said.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
Former India opener and BJP MP Gautam Gambhir on Friday said that there should not be any relation with Pakistan till cross-border terrorism gets over.
The Centre on Monday defended in the Supreme Court the third extension of service granted to Enforcement Directorate chief Sanjay Kumar Mishra, asserting it was due to a peer review being conducted by the Financial Action Task Force (FATF) this year and said he will retire this November.
Munir was among those in Pakistan who oversaw the 2019 Pulwama terror attack, according to Tilak Devasher, a member of the National Security Advisory Board (NSAB) and who retired as Special Secretary, Cabinet Secretariat.
India has evidence that social media platforms are being used to raise terror funds, NIA director general Dinkar Gupta said on Thursday, underlining that the issue will be deliberated during a two-day international ministerial conference on countering terror financing.
Muraleedharan said that terrorist groups such as Al-Shabaab have put in place elaborate revenue collection networks, to support their terrorist activities.
The Supreme Court said on Wednesday that money laundering is a "heinous" crime which not only affects the social and economic fabric of a nation but also tends to promote other serious offences like terrorism and drug trafficking.
China has put a hold on a proposal moved at the United Nations by the United States and co-supported by India to designate Lashkar-e-Taiba (LeT) terrorist Sajid Mir, one of India's most wanted terrorists and the main handler of the deadly 2008 Mumbai attacks, as a global terrorist.
In the document, the global body expressed concerns over the increasing use of Internet and other information and communications technologies, including social media platforms, for terrorist purposes.
Inciting the public to raise funds for jihad (holy war) is not allowed to individuals or any organisation in Pakistan and is considered as treason, the Lahore high court has ruled even as it dismissed appeals of two terrorists convicted for raising funds for a proscribed terror outfit.
The demand for action by Pakistan was made through a joint statement issued after the 2+2 ministerial attended by the US Secretary of State Antony Blinken and Defence Secretary Lloyd Austin, Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
He also said that terrorists are constantly finding new ways to carry out violence, radicalise youth and raise financial resources and the darknet is being used by terrorists to spread radical content and conceal their identities.
The IMF and World Bank have stopped loans, and the FATF warned its 39 member nations to block Taliban assets.
Voicing his country's support to Pakistan's stand on the Kashmir issue, he said it can be resolved not through conflict or oppression but on the basis of justice and fairness. "Our Kashmiri brothers and sisters have suffered from inconveniences for decades and these sufferings have become graver due to unilateral steps taken in recent times," Erdogan said.
He also said that when it comes to proscribing some terrorists, the United Nations Security Council (UNSC) has 'regrettably' been unable to act in some cases because of 'political considerations'.
Keeping the contents of the BBC documentary aside, Rishi Sunak's response needs to be viewed in the backdrop of Britain's historically close relations with Pakistan, argues Lieutenant General Prakash Katoch (retd).
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
The Anti-Terrorism Court (ATC) Gujranwala issued the warrant during a hearing in a terror financing case instituted by the Counter Terrorism Department (CTD) of Punjab police against some members of the JeM.
Contending that the ceasefire agreement was more important for Pakistan as it is desperately trying to come out of the "grey list" of the Financial Action Task Force, the official, who spoke on condition of anonymity, said the sincerity of Islamabad could have been gauged if they had dismantled the terror infrastructure.
This year saw no improvement in bilateral ties as India accused Pakistan of cross-border infiltration and re-activation of terror-launching pads near the LoC.
United Nations proscribed terrorist Lakhvi, 61, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department of Punjab province on Saturday.
US Secretary of State Antony Blinken, in the 2020 Country Reports on Terrorism issued on Thursday, said that regionally, terrorist groups continued to operate from Pakistan.
Thailand has prepared a list of 291international terrorists and terrorist organisations to be banned from conducting financial transactions in the country, a senior official said on Tuesday.
Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms. The announcement comes after the tax haven was put on the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.
The sentencing of Saeed came just four days ahead of a meeting of global anti-terror watchdog Financial Action Task Force in Paris to review Pakistan's compliance of an action plan prescribed by it to contain terror groups in the country.
The govt said the onus is on Pakistan to create such a conducive atmosphere, including by taking "credible, verifiable and irreversible" action to not allow any territory under its control to be used for cross-border terrorism against India.
The placement on to grey list could hurt Pakistan's economy as well as its international standing.
In its recent report, the Financial Action Task Force has stated that 1,704 cases of money laundering are currently under probe in India. But the conviction rate in cases of money laundering, which are being probed by the task force, is a shocking three per cent.
Pakistan is yet to comply with 13 conditions out of the 27-point Action Plan of the FATF including curbing terror financing, enforcement of the laws against the proscribed organisations and improving the legal systems.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances