Foreign Exchange Management Act

Post note-ban, ED raided 620 entities over FEMA violations, laundering

"Financial institutions, being the biggest money-moving channels, are typically more susceptible to fraud. However, post the demonetisation exercise the banking channels came under tremendous stress so any data should be seen in light of this fact,”

Samir Paranjape
Partner, Grant Thornton India LLP

This article appeared in Live Mint on 10th November, 2017.