Indore (Madhya Pradesh): After five days of brainstorming, the Eurasian Group member nations are going to put their stamp on the report of mutual evaluation of India’s anti-money laundering and terrorist financing measures on Friday, the final day of the 41st Plenary and Working Group Meeting of EAG on Combating Money Laundering and Financing of Terrorism. The EAG nations have already hailed India’s anti-money laundering and terror financing measures, and giving approval to the largest democracy’s report is expected to be a mere formality. The report was tabled and discussed in the working group of EAG and plenary session.
India’s mutual evaluation was conducted by member countries of Financial Action Task Force (FATF), Asia Pacific Group on Money Laundering (APG) and EAG. The report was adopted in June 2024 during the FATF plenary held in Singapore and in September 2024 during APG plenary held in Abu Dhabi. EAG will adopt the mutual evaluation report in its plenary. Following the assessment, India has been placed in ‘regular follow-up’, which is the highest rating category by FATF.
UK, France and Italy are among the only G-20 countries that have been placed in this category apart from India. The report highlights that India has made significant steps in financial inclusion, more than doubling the proportion of the population with bank accounts, encouraging greater reliance on digital payment systems. These efforts have supported financial transparency, which in turn contributes to AML/CFT efforts. The plenary meeting brought together experts and officials from around the world to discuss strategies for further curbing the financing of terrorism and illicit financial activities, with India reaffirming its commitment to leading the charge in this global battle.
Guv praises EAG’s united stance against terror
Madhya Pradesh Governor Mangubhai Patel, who was the chief guest at the EAG plenary meeting on Thursday, called money laundering and terrorism financing a serious threat to global economic stability and peace. He praised the EAG’s collective efforts, stating that the group’s unified stance is a crucial step toward ensuring global integrity.
Patel also commended India’s efforts under Modi’s leadership, pointing to landmark reforms like demonetisation and the Goods and Services Tax (GST), which have been instrumental in combating black money and tax evasion.
MP hospitality, cultural extravaganza mesmerise foreign delegates
Foreign delegates attending the 41st Plenary Meeting of the Eurasian Asian Group (EAG) were treated to an unforgettable showcase of Indian culture, music and hospitality on the closing day of the event. The cultural presentations org.sed by the Directorate of Culture, Madhya Pradesh, provided a vibrant glimpse into the region’s rich artistic heritage and global influence at Brilliant Convention Center in Indore.
The programme, which featured musical and dance performances, captivated an international audience highlighting the state’s deep cultural roots and its warm hospitality. The evening’s first performance featured the world-renowned “Maihar Instrumental Group”, whose melodic tunes, including the iconic “March Fast” resonated throughout the auditorium. Playing traditional instruments, the group created an enchanting atmosphere, showcasing the timeless beauty of Indian classical music.
