Prevention of Money Laundering Act (PMLA), 2002
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Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
Established legal framework to prevent money laundering and provide for confiscation of property derived from laundered money. Created Financial Intelligence Unit (FIU-IND) and empowered Enforcement Directorate.
Key Facts
Type Legislation
Source Historical Record (Curated)
Published Friday, 17 January 2003
Affected Population 1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
20 million central + state government employees
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right