Recently lsquo Elephant bonds rsquo was in news It is associated with ........

Security Issues Money laundering

Recently,‘Elephant bonds’ was in news. It is associated with-

Conservation strategy for Elephants under Project Elephant

Bonds issued outside India but denominated in Indian Rupees to attract foreign investment

Mechanism to bring back offshore undisclosed wealth into India

None of the Above

The ‘elephant bonds’ provides an avenue for people to bring their offshore undisclosed wealth into India without fear of prosecution.

High Level Advisory Group on Trade Policy (HLAG) estimates that creation of elephant bonds could help fund (approximately) $500 billion worth of infrastructure projects.
HLAG was set up under the Ministry of Commerce and Industry last year and chaired by economist and former member of the Economic Advisory Council to the Prime Minister, Surjit S Bhalla.
One of the key features of the proposed mechanism is that those disclosing their black money will receive “immunity from all laws including under foreign exchange, black money laws and taxation laws,” stated the group’s report.