Central Economic Intelligence Bureau (CEIB), Ministry, Functions

The Central Economic Intelligence Bureau (CEIB) is the nodal agency for economic intelligence in India. It functions under the Department of Revenue, Ministry of Finance, and plays a major role in coordinating intelligence related to economic offenses, financial frauds, smuggling, tax evasion, money laundering, and other financial crimes. Established in 1985, the CEIB acts as a central repository of information on economic offenses and helps different enforcement agencies work together effectively.

Central Economic Intelligence Bureau (CEIB)

• Central Economic Intelligence Bureau (CEIB) acts as a central repository of economic offense records and intelligence data.
• It coordinates with agencies like the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), Directorate of Revenue Intelligence (DRI), Income Tax Department, and Financial Intelligence Unit (FIU).
• The bureau works as a clearinghouse for sharing economic intelligence among enforcement agencies.
• CEIB serves as the secretariat of the Economic Intelligence Council (EIC).
• It also coordinates the functioning of 21 Regional Economic Intelligence Councils (REICs) across India.
• The bureau conducts antecedent verification of borrowers seeking loans above ₹50 crores from Public Sector Banks (PSBs).
• CEIB administers the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA) at the central level.
• It helps in combating money laundering, smuggling, tax evasion, hawala transactions, and financial frauds.
• The organization is headed by a Special Secretary-cum-Director General (DG).
• CEIB strengthens economic security, financial intelligence, and inter-agency coordination in India.

About Ministry of Finance

The Ministry of Finance is one of the most important ministries of the Government of India responsible for managing the country’s economy, financial system, taxation, expenditure, banking, and budget.

• It plays a major role in the formulation and implementation of India’s economic policies.
• The ministry is headed by the Finance Minister of India.
• It is responsible for preparing the Annual Union Budget and presenting it in Parliament.
• The Ministry of Finance manages the government’s revenue collection and public expenditure.
• It supervises the functioning of banks, insurance companies, financial institutions, and capital markets.
• The ministry works to maintain economic stability, financial growth, and fiscal discipline in the country.
• It frames policies related to taxation, investment, public debt, and foreign exchange management.
• The ministry coordinates with important institutions like the Reserve Bank of India (RBI), SEBI, NABARD, and Public Sector Banks.
• It handles matters related to direct taxes and indirect taxes through various departments.
• The ministry also plays a major role in controlling inflation, fiscal deficit, and economic reforms.
• It is involved in policy decisions related to GST, customs duty, income tax, corporate tax, and financial regulation.
• The Ministry of Finance represents India in international financial organizations such as the World Bank, International Monetary Fund (IMF), Asian Development Bank (ADB), and AIIB.
• It helps in promoting financial inclusion, digital payments, and economic development.
• The ministry also monitors and combats economic offenses, money laundering, and financial frauds through different agencies.

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UPSC CSE Prelims PYQs

Que. With reference to the organisations under the Government of India, consider the following details:

In how many of the above rows are the given details correctly matched?

(a) 1

(b) 2

(c) 3

(d) None

Answer: (a) 1