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Financial Action Task Force

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Indian has become a full-fledged member of Financial Action Task Force (FATF), an inter-governmental body, responsible for setting global standards on anti-money laundering (AML) and combating the financing of terrorism (CFT). Earlier, India had become Observer at FATF in the year 2006. Since then, India


has been working towards full-fledged Membership of FATF. FATF membership is very important for India in its quest to become a major player in the international finance. It will help India to build the capacity to fight terrorism and trace terrorist money and to successfully investigate and prosecute money laundering and terrorist financing offences. India will benefit in securing a more transparent and stable financial system by ensuring that financial institutions are not vulnerable to infiltration or abuse by organized crime groups. The FATF process will also help us in coordination of AML/CFT efforts at the international level.

ICAT
International Centre for Automotive Technology, Manesar has now launched Online Certification System (OCS) to speed up certification and homologation, related processes. Online Certification System will help
enhance transparency and efficiency in all the critical steps of certification system. Reduced use of paper and less requirement of physical presence of customer will be major USPs of this system. In line with best global practices, OCS would also mean that manufacturers around the world can access their data 24x7x365. All processes such as Type Approval, Conformity of Production (COP), Research & Development projects related to vehicles, engines, generator sets and automotive components are supported by the system. Multi-user and multi-disciplinary options will ensure uniform access to all employees within a particular knowledge domain. Appropriate checks and systems built into OCS will ensure strict control and confidentiality at all times. Another benefit of this system is that clients can track the status of their projects anytime using the system. A single window will give updates on specifications, timelines and costs. iCAT is India’s premier automotive test agency, equipped for full homologation of automobiles as well as components. iCAT’s strengths also lie in its core capabilities in R&D jointly with manufacturers and automotive developers, besides certification and research work, a lot of which is also funded by the Government of India’s Ministry of Heavy Industries. iCAT is one of the most advanced testing and certifying agencies in the world and has a strong IT backbone to support all its activities.