Swiss banks release Indians' account information, search for black money issued

New delhi date. September 8, 2019, Sunday

For the first time since the agreement between Switzerland and India, Swiss banks have disclosed to any Indians who are eating in Swiss banks. Black money is being prosecuted as part of which Swiss banks have begun to provide this information.

There are reports that people have slowly withdrawn money from Swiss banks, in the midst of this situation Swiss banks are now giving information about Indians with black money. The information currently provided has not been clarified as to how many people's black money is involved, but an investigation has been issued.

Currently, a detailed analysis of the information provided by Swiss banks in the first phase is underway. The information issued by Swiss banks also contains information about the accounts of people who are native Indian or have an NRI and who are eating in Swiss banks. Information about NRIs, particularly in the US and Britain, has been provided.

Bank officials, on the other hand, also acknowledged that the amount of withdrawal from banks has increased over the past several years.

Particularly at the time of the agitation in India over black money and when the government has become wet, the pace of withdrawal from Swiss banks has increased. Many people were exposed to black money even after the Panama paper was leaked.

The pressure was put on the Modi government of the Center to return the black money, and at the time of the Lok Sabha elections, the BJP had promised to return the black money.

Modi claimed that as much as Rs 1 lakh in each account, black money is abroad. However, in the midst of these claims and promises, Swiss banks have now begun to provide Indians' account information.

Currently only the information received is under analysis so the information may also be kept confidential. The information received also contains information about accounts that are not currently active or have been closed.

Special investigations into the accounts involving politicians are underway. So if the information is true and there is really black money, the names of many politicians may also come up.