Full form of ED
It is responsible for enforcing the foreign exchange management act, of 1999 (FEMA). The responsibility of the Department of Revenue. It is an economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
What is the full form of ED?
The full form of ED is Enforcement Directorate.
The Enforcement Directorate was established in the year of 1956 and its headquarters of it is in New Delhi, India.
ED is an Economic Intelligence Agency which administers economic laws and fights against crimes in our Nation. ED comes under the Ministry of Finance, Revenue Department, Govt. of India.
The Enforcement Directorate also has several zonal offices in Kolkata, Mumbai, Hyderabad, Chandigarh etc. It also has some sub-zonal offices in various cities.
It comprises the Indian Administrative Service, Indian Revenue Service, Indian Corporate Law Service and Indian Police Service and also promoted officers from its own cadre.
Objective of ED
The main objective of the ED is the enforcement of two main laws of the Government of India and which are the Prevention of Money Laundering Act (PMLA 2002) and the Foreign Exchange Management Act (FEMA 1999).
The official website of the ED enlists its other purposes, which are linked with investigating money laundering in India.
Functions of ED
- To take legal action and arrest a person involved in the act of money laundering
- We are considering suspected violations of FEMA, including export proceeds, hawala transactions, foreign exchange violations, non-realization of export proceeds and other violations.
- The monitor acts like searches, arrest, prosecution act and survey against whom break the laws of PMLA
- To gather, expand and disseminate critical information related to violations of FEMA 1999.
- Prohibition of conversion, transfer and movement of property by an order issued under Chapter 3 of the Money Laundering Act.
- To decide and carry fines and settle cases of violations of the FEMA 1999 and FERA 1973
Conclusion
So you understand the ed full form, and it’s under the administrative control of the department of revenue. In 1957 was renamed the ‘Enforcement Directorate’. It is also part of the Ministry of Finance and the Government of India.
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