ED Full Form
by Yogi P - August 20, 2023
What is the Full form of ED?
ED Full Form is the Enforcement Directorate. ED is an economic intelligence organization that implements laws of economics and defends against financial crimes in the nation. ED stands under the Department of Revenue, Ministry of Finance, Indian Govt.
Foundation and Structure:
ED was founded in 1956. Its headquarters is situated in New Delhi. The ED also has many regional offices in Kolkata, Mumbai, Chandigarh, Hyderabad, etc. It has subzonal offices in various cities, too. It is composed of Indian Revenue Service, Indian Police Service, Indian Corporate Law Service, and Indian Administrative Service officers.
Main Objectives:
The primary objective of the ED is to enforce two major Indian government laws, including the FEMA 1999 (Foreign Exchange Management Act) and the PMLA 2002 (Money Laundering Prevention Act). The ED’s official website enlists several other targets that are specifically linked to combating money laundering in India. It is an investigative body, and the release of full information on the public domain is contrary to GOI guidelines.
Operations and Functions:
The intelligence reports are provided from different sources, including State & Intelligence departments, grievances, etc., to gather, establish, and disseminate information related to FEMA violations, 1999. It examines suspected infringements of the 1999 FEMA regulations, including acts such as hawala foreign exchange racketeering, non-realization of export proceeds, non-repatriation of international trade, and other forms of FEMA violations, 1999.
ED is also responsible for adjudicating cases of former FERA 1973 & FEMA 1999 violations and carrying out the fines levied after the adjudication process. It handles appeals, appeals, and legal proceedings under the former FERA 1973. Additionally, ED conducts investigations, searches, inspections, convictions, lawsuits, etc., against PMLA (Prevention of Money Laundering Act) suspects.
