NEW DELHI, July 6: Setting at rest all apprehensions, Revenue Secretary N K Singh has categorically said that the proposed Money Laundering Bill would cover economic offences in addition to a new set of crime.

Talking to this newspaper, Singh said that the Money Laundering Bill and the Foreign Exchange Management Bill would run parallel to each other and hence there was no question of ignoring the issue of economic offences presently covered under FERA. The inter-ministerial group finalised the report and draft legislation of the money laundering bill last week.

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