FIU-IND & NHB ink MOU to enhance coordination and information exchange

Current Context: The Financial Intelligence Unit (FIU-IND) and the National Housing Bank (NHB) signed a Memorandum of Understanding (MoU) in New Delhi on January 18, 2025.

• This MoU aims to enhance coordination and information exchange between the two organizations.
• The partnership is focused on strengthening efforts to combat money laundering and terrorist financing within India's financial sector. 
• Key areas of collaboration include:
• Intelligence Sharing: Both organizations will share relevant financial intelligence to detect and prevent financial crimes.
• Capacity Building: Joint training programs and workshops to enhance the skills of their personnel.
• Risk Assessment: Conducting comprehensive risk assessments to identify potential threats.
• Red Flag Indicators: Developing and implementing indicators for suspicious transactions in the housing finance sector.

Question:

1. What is the primary aim of the MoU signed between Financial Intelligence Unit (FIU-IND) and the National Housing Bank (NHB)?

• A) Promote housing finance
• B) Enhance coordination and information exchange
• C) Increase foreign investments
• D) Develop new housing policies

Answer: B) The MoU aims to enhance coordination and information exchange between FIU-IND and NHB.