Q. With reference to Enforcement Directorate (ED) consider the following statements:
1.It is a multi-disciplinary organization mandated with the task of enforcing the provisions of Foreign Exchange Management Act and Prevention of Money Laundering Act.
2.It functions under the Home Ministry.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A
Notes:

Statement 1: Enforcement Directorate (ED) is a multi-disciplinary organization mandated with the task of enforcing the provisions of two special fiscal laws namely – Foreign Exchange Management Act, 1999 (FEMA) and Prevention of Money Laundering Act, 2002 (PMLA).

Statement 2: The statement is incorrect. It functions under the Department of Revenue of Ministry of Finance.

Source: The Indian Express