The Lok Sabha has taken up a discussion on the Prevention of Money-Laundering (Amendment) Bill, 2011 in its post-lunch session. The Bill aims at amending the previous Act of 2002. Moving the bill, Finance Minister Chidambaram said all the 18 recommendations of the Standing Committee have been accepted by the Government.

Initiating the discussion, Mr Nishikant Dubey of the BJP called for stringent provisions to deal with the black money stashed in foreign banks and check the menace of counterfeit currency.

Mr Sanjay Nirupam of the Congress said the government has taken several steps to check money laundering since India became a member of the global Financial Action Task Force two years ago.

The discussion was continuing when reports last came in.