Directorate of Revenue Intelligence (DRI) 24/06/2019 – Posted in: Daily News – Tags:

DIRECTORATE OF REVENUE INTELLIGENCE (DRI)

 

For: Mains

Topics covered: What is DRI- its functions, aims, roles, and powers

 

News Flash

Directorate of Revenue Intelligence (DRI) sought RBI’s assistance in obtaining information from two state-owned banks.

Two private banks have shared all information with DRI, but, government-owned banks have declined to do so citing the confidentiality clause.

 

Can RBI shares customer Information?

The Reserve Bank of India (RBI) has no power to share customer’s information with third parties, including investigative agencies of the government, even if it is in the interests of the bank.

It is also noted that there is no statutory provision which enables RBI to decide about the permissibility of sharing of customer information by any bank with third parties, irrespective of whether it is in the interests of the bank or otherwise.

The RBI’s decision to share information lies with the banks, which would be responsible for their actions in case of any dispute.

 

Directorate of Revenue Intelligence (DRI)

  • DRI of India is the apex anti-smuggling agency, working under the Central Board of Indirect Taxes & Customs.
  • It is tasked with detecting and curbing the smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty.
  • It works to secure India’s national and economic security by preventing the outright smuggling of contraband such as firearms, gold, narcotics, Fake Indian Currency notes, antiques, wildlife, and environmental products.
  • DRI also works to prevent the proliferation of black money, commercial frauds, and trade-based money laundering.
  • It enforces provisions of the Customs Act in addition to over 50 other statutes including the NDPS Act, Arms Act, WMD Act, etc
  • DRI is also a part of the Cabinet Secretariat’s National Authority Chemical Weapons Convention, the Special Investigation Team on Black Money, the Task Force on Shell Companies, the Multi-Agency Center (MAC) on National Security, the Ministry of Home Affairs/NIA’s special wings on Left Wing Extremism Financing, as well as various inter-ministerial committees on Terror Financing, Coastal Security, Fake Indian Currency Notes, etc.

 

Source: Indian Express

 

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