The global anti-money laundering watchdog, the financial Action Task Force (FATF) urged India on Thursday to speed up its prosecutions in financial fraud cases.

FATF also said India has to improve the implementation of cash restrictions by dealers in precious metals and stones as a priority.

Global anti-money laundering and terror financing body FATF on Thursday launched its much-awaited mutual evaluation report on India, saying the county's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases.

NEW DELHI, (REUTERS) – Artillery shells sold by Indian arms makers have been diverted by European customers to Ukraine and New Delhi has not intervened to stop the trade despite protests from Moscow, according to 11 Indian and European government and defense industry officials, as well as a Reuters analysis of commercially available customs data.

By Krishn Kaushik NEW DELHI (Reuters) -Artillery shells sold by Indian arms makers have been diverted by European customers to Ukraine and New Delhi has not intervened to stop the trade despite protests from Moscow,

Ammunition manufactured in India has been diverted to Ukraine for over a year by European clients, despite protests from Russia. According to sources from both India and Europe, New Delhi has not taken action to stop these transfers,