Under the Prevention of Money-laundering Act, 2002, "financial institution" also includes:
Section 2(1)(l) expressly lists "the Department of Posts in the Government of India" among financial institutions, alongside chit fund companies, NBFCs and others.…
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Under the Prevention of Money-laundering Act, 2002, "financial institution" also includes:
Answer and explanation
Correct answer A
Section 2(1)(l) expressly lists "the Department of Posts in the Government of India" among financial institutions, alongside chit fund companies, NBFCs and others. Recognised stock exchanges and SEBI-registered merchant bankers are intermediaries, and casinos carry on a designated business.