1.
In August 2022, which of the following bodies tightened the anti-money laundering rules?
A
SIDBI
B
SEBI
C
IRDAI
D
NABARD
View Answer
Correct Answer: C — IRDAI
Explanation:
IRDAI (Insurance Regulatory and Development Authority of India) tightened anti-money laundering rules in August 2022. Key changes included removing all exemptions and relaxations from AML guidelines for insurers — no life, general, or health insurer can now claim relaxations from money-laundering rules as set by the RBI. IRDAI also made 'level of risk assessment' a function of the size of the company's business. IRDAI is an autonomous statutory body headquartered in Hyderabad.