India was lauded for its efforts to implement measures against money laundering and terror financing on the first day of the 41st plenary meeting of Eurasian Group (EAG), which began in Madhya Pradesh's Indore on Monday, an official said.

During the five-day meeting, nine member countries, including India, will deliberate and chart out a road map to deal with the growing challenges of cybercrimes, money laundering and financing of terrorism, the official said.

"In the first session of the meeting, representatives from member countries hailed India for getting the highest rating of the Financial Action Task Force (FATF)," said Vivek Agrawal, additional secretary, revenue department of the Ministry of Finance, who is representing India at the meet.

He said the FATF placed India in the category of regular follow-up, the highest rating given by the independent inter-governmental body after assessing India's efforts to implement measures to combat illegal activities such as money laundering and terror financing.

Talking to reporters, Agrawal said that in the upcoming meetings, member countries will discuss issues such as money laundering, illegal transactions, terror financing,  cybercrimes and their solutions.

He said representatives of the fintech industry will also discuss the financial products that can trigger crime.

Agrawal said that based on the discussions held for three days, member countries will adopt a resolution during the plenary session of the meeting.

Public representatives, including Indore MP Shankar Lalwani, state urban development minister Kailash Vijayvargiya, mayor Pushyamitra Bhargava and district magistrate Ashish Singh participated in the welcome session of the meet.