Central Board of Direct Taxes (CBDT) and the Financial Intelligence Unit (India) have signed a pact to exchange information on tracking unaccounted funds.Official sources said that black money stashed abroad by Indians will now be traced more efficiently . Under the agreement, a nodal officer will be appointed from each organisation to ensure the exchange of information. Furthermore, a periodical review of information will make it more effective in checking the black money flow.An official said about the agreement that the MoU (Memorandum of Understanding) also provides scope for obtaining information on any investigation conducted by the Indian Revenue Service. It will provide another avenueto get information about black money of Indians and NRIs stashed abroad . The MoU was signed on Friday by CBDT Chairman S S N Moorthy and FIU (IND) Director Arun Goyal.FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC), headed by the Finance Minister. It is responsible for receiving and disseminating information relating to suspect financial transactions.The CBDT, on the other hand, is the largest consumer of information reported by financial transacting institutions like banks and insurance companies.