received in rupees against overseas currencies and vice versa without going through the official channels
B
received for sale/transfer of shares without going through the established stock exchanges
C
received as commission for services rendered to overseas investors/buyers/ sellers in assisting them to get over the red tape and/or in getting preferential treatment
D
made to political parties or to individuals for meeting election expenses
Correct Answer: Option A
Explanation
1. The question asks for the definition of Hawala transactions.
2. Hawala is an informal value transfer system based on trust, operating outside traditional banking or financial channels.
3. It primarily involves transferring money across borders. A person in one country gives money in local currency to a Hawala agent, who then instructs an associate in the destination country to pay the equivalent amount in that country's currency to the intended recipient.
4. Option (A) accurately describes this: payments received in rupees against overseas currencies and vice versa without going through the official channels.
5. Options (B), (C), and (D) describe other types of transactions (related to shares, commissions, election expenses) which are not the defining characteristic of Hawala.