Washington: Bharatiya Janata Party would make public the names of 800 Indian account holders in Swiss Banks if it comes into power in the 2014 general elections, senior party leader Yashwant Sinha has said. "Of course, we will do. Of course, we will do," Sinha told a small audience at an event organised by a recently formed Washington-based Indian American think-tank Foundation for India and Indian Diaspora Studies (FIIDS). "Will...
05:53 PM, May 30, 2012
New Delhi: The illicit outflow of money from India has been estimated at $104 billion as of December last year, according to a report of the Global Financial Integrity (GFI). This has been disclosed by the white paper on black money tabled in Parliament on Monday. But the report does not give any estimate of the government about either black money in India or the amount stashed away in banks...
12:33 AM, May 22, 2012
New Delhi: Days after CBI Chief's statement that Indians are the largest depositors in Swiss banks, Switzerland on Thursday said such estimates and statistics lack evidence and are uncorroborated. In an unusual step, the Embassy of Switzerland here issued a press release saying, "it wishes to make a clarification in view of unsubstantiated media reports that have been recently published about Switzerland and Swiss Banks." But, the release, which did...
06:07 PM, Feb 16, 2012
Speaking on the issue, CBI Director AP Singh said the largest depositors in Swiss Banks were reported to be Indians. ...
05:44 PM, Feb 13, 2012
New Delhi: Indians are the largest depositors in banks abroad with an estimated $ 500 billion (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI Director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin Islands etc. "It is estimated that around 500 billion dollars of illegal money...
03:19 PM, Feb 13, 2012
Geneva: A state-owned Swiss bank has described a US tax evasion probe as "major challenge" to it and Switzerland's entire banking industry. Zurich-based Zuercher Kantonalbank is one of at least 11 Swiss banks under pressure from the US to give up tax-evading American customers and the bankers who aided them. ZKB said on Friday it never actively sought customers in the United States but did receive millions of dollars in...
11:08 PM, Feb 10, 2012
Washington: The United States has indicted the oldest bank of Switzerland on charges of conspiracy to hide more than $1.2 billion. Significantly, this is the first time an overseas bank has been charged by the US for allegedly facilitating tax fraud by US taxpayers, which comes at a time when a country like India is struggling to address the issue of billions of Indian rupees stashed in various Swiss banks....
09:31 AM, Feb 03, 2012
New Delhi: The Central Information Commission has directed the President's Secretariat to disclose details of correspondence among various ministries and the Delhi Police related to black money. The order came following an appeal by an RTI applicant who had sought to know the action taken on the letters written by him to Finance and External Affairs ministries among other public authorities in connection with the illegal wealth stashed abroad. During...
03:45 PM, Jan 09, 2012
New Delhi: The Opposition and the Government were involved in a heated debate over black money in Parliament on Wednesday. The key speakers included Finance Minister Pranab Mukherjee, senior BJP leader LK Advani, Congress spokesperson Manish Tewari, BJP leader Yashwant Sinha, Congress leader Shashi Tharoor, RJD chief Lalu Prasad Yadav and JD(U) President Sharad Yadav. Below is what the principal speakers said in the Lok Sabha. Pranab Mukherjee: - As...
05:45 PM, Dec 14, 2011
Mumbai: BJP leader LK Advani on Saturday asked the government to disclose the names of three MPs who figure in the list of 700 Indians who have stashed funds in Swiss bank accounts, terming it as a serious matter which brings the issue of black money close to the political system. "Three MPs have been named - one each from Kerala, Uttar Pradesh and Haryana - in the list of...
12:48 PM, Nov 05, 2011
BJP MP Varun Gandhi filed a RTI on Friday saying that the government needs to name the MPs who have Swiss bank accounts. ...
01:53 PM, Nov 04, 2011
New Delhi: The Black money debate has returned to haunt the UPA, even as the Income Tax Department has started probing accounts of 782 Indians in a Swiss bank for suspected black money. A list of the top Indian black money account holders of HSBC bank in Switzerland could make things more difficult for the Centre, as the list includes the who's who of the country - one reason why...
09:07 PM, Nov 01, 2011
New Delhi: The Income Tax department is looking at 782 Indian accounts in HSBC Geneva for suspected black money. Sources said a probe into some of the Indian account holders with over Rs 3000 crores in deposits are being probed. The list was not officially given by the Swiss government, added the sources. Finance Minister Pranab Mukherjee says the government will reveal more foreign banks when there is enough information...
01:45 PM, Nov 01, 2011
Geneva: UBS AG on Thursday said an unauthorised trader has caused it a loss of whopping $2 billion, a development that could push the Swiss banking major into a loss for the September 2011 quarter. The alleged fraud comes at a time when the banking giant is slowly recovering from the blows of the 2008 financial meltdown that had caused huge losses for the entity. Without divulging much details, UBS...
10:59 PM, Sep 15, 2011
Geneva: The Swiss Bankers Association lashed out on Monday at the possibility of another tax treaty with the United States aimed at handing over details of Americans suspected of using Swiss banks to cheat on their taxes. The trade group's chairman, Patrick Odier, urged the Swiss people and the government to "put up a united front" and work out a solution that applies to all countries. He said that the...
06:34 PM, Sep 05, 2011
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