Government got list of Swiss Bank Account Holders, will Expose Black Money

The Government of Switzerland has submitted the first information related to bank accounts to the Government of India. The information of Indian accounts opened in Swiss bank by the government has been submitted to the government. India is one of the few countries that are getting this information.
Government got list of Swiss Bank Account Holders, will Expose Black Money

In the matter of getting information about Black money from foreign land, the Modi government has achieved great success. The Government of Switzerland has submitted the first information related to bank accounts to the Government of India. The information about the Indian accounts opened in Swiss bank by Switzerland has been submitted to the government. India is one of the few countries that are getting this information.

According to Switzerland's tax department, the next information will be submitted to the Indian government in 2020. According to the information, Switzerland has about 31 lakh accounts from 75 countries of the world which are on the radar, including many accounts of India.

<strong style="font-size: inherit;">Swiss banknotes and coins</strong>
Swiss banknotes and coins

After getting information from the government of Switzerland, the government sources say that all the accounts are not illegal in the information that has been received. Government agencies will now start an investigation in this matter, in which the names of account holders, their account information will be shared and action will be taken according to the law.

Bringing black money stashed away abroad has been a big issue for the Modi government, whether it is the 2014 elections or the 2019 elections, the government of Switzerland was constantly being approached by the government to gather information. Now the Modi government has got success in this fight against black money.

How much money do Indians have in Swiss bank?

Earlier, in June 2019, the report released by Swiss National Bank stated that there was a decline in deposits by Indians in Swiss banks. According to the 2018 data, only 6757 crores of Indians have deposits in Swiss banks. However, how much of it is black money and how much is not given by Swiss banks.

It was also revealed in the previous report that in the information submitted by Switzerland to India, there is so much information that a strong case can be prepared against those who keep money in banks there. The full details of the transactions were given by the government of Switzerland in every account that was active on a single day in 2018.

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