SWISS BANKS

  • Black money: Refusal to declare names of account holders disillusions BJP supporters 3 days ago

    New Delhi: The Narendra Modi government's promise to bring back black money stashed abroad, is now veering uncomfortably close to the UPA government's line. The Centre told the Supreme Court on Friday that it cannot disclose details given by countries with which India has a double taxation avoidance agreement. Finance...
  • Swiss will examine India's request for banking information on priority basis 5 days ago

    In a major breakthrough in India's fight to bring back black money stashed abroad, Switzerland said it will examine India's requests for banking information on a priority basis. ...
  • Blackmoney: Indian agencies get Swiss banks' data of hoarders August 24, 2014

    New Delhi: Tax investigators pursuing instances of blackmoney stashed abroad by Indians have finally been able to circumvent the Swiss secrecy code by asking over 100 such account holders to submit on their own details of personal balances in these banks, brought under the tax net recently, for lesser penal...
  • List of Indians with unaccounted money in Swiss banks may be out soon June 29, 2014

    New Delhi: In a step towards bringing back all the black money allegedly stashed away in Swiss banks as promised during the election campaigns, the new government at the Centre on Sunday wrote to the Switzerland government seeking bank details and names of Indians having unaccounted money. The latest request has...
  • Black money probe: India seeks details of secret accounts from Switzerland June 29, 2014

    New Delhi: As the Indian government expands its efforts to combat the menace of black money, it has made a fresh request to Switzerland seeking secret bank details and names of Indians who have unaccounted money in Swiss banks. Earlier this week, the Switzerland said that it was readying a list...
  • RBI asks banks to give information to SIT on black money June 23, 2014

    Mumbai: The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money. "All the banks and financial institutions (FIs) are advised to ensure that information/documents required by the SIT are made...
  • India to seek expeditious sharing of bank information from Swiss government June 23, 2014

    New Delhi: Seeking to expedite information sharing from the European nation, Finance Minister Arun Jaitley on Monday said the government will write to Switzerland seeking details of Indians having unaccounted money in Swiss banks. The Minister's remark comes a day after a Swiss government official told PTI that names of...
  • Will speak to Swiss Bank on Indians depositing unaccounted money June 23, 2014

    Union Defence Minister Arun Jaitley on Monday said that he would write to the authorities of Swiss Bank and request for expedite process of sharing of information on bank accounts held by Indians. ...
  • Black money probe: India to get Swiss bank details, SIT promises action June 22, 2014

    New Delhi: India's efforts to crackdown on black money stashed abroad today got a major boost with Switzerland readying a list of Indians suspected to have untaxed money in Swiss banks, while Special Investigation Team constituted by Indian government promised action if any illegality is found. The names of certain...
  • Info requests beyond tax pact cannot be entertained: Swiss government May 8, 2014

    New Delhi: With India stepping up pressure for data on alleged illicit funds parked in Swiss banks, Switzerland has asserted that it cannot positively respond to requests which are beyond the ambit of bilateral tax treaty. Reiterating that it is committed to fighting tax evasion, Switzerland also said both nations should...
  • Government committed contempt over order on black money, rules SC April 22, 2014

    New Delhi: The Supreme Court on Tuesday pulled up the government for doing nothing to comply with its July 2011 order directing it to disclose the names of Indians who have stashed away money in foreign banks. located in Liechtenstein. The details of Indian account holders in banks of Liechtenstein, a...
  • Swiss government to reply Chidambaram's letter soon March 27, 2014

    Switzerland on Thursday said it would soon respond to Finance Minister P Chidambaram's letter that has raised concerns about not providing information on alleged unaccounted money stashed by Indians in Swiss banks. "We confirm that we have received a letter from India's Finance Minister. He will receive an answer soon," a...
  • Switzerland not sharing information on bank accounts of Indians: Chidambaram March 27, 2014

    New Delhi: Upping the ante against Switzerland for not sharing information on Indians stashing money in its banks, Finance Minister P Chidambaram has threatened to drag the European nation to multilateral foras like G20 for continuing to block its requests. Chidambaram, in a terse two-page letter to his Swiss counterpart Eveline...
  • Swiss bank UBS to exit banking business in India: Source June 22, 2013

    Mumbai: Swiss bank UBS AG will surrender its Indian banking license and close its banking unit, covering fixed income, forex operations and credit services, a source with direct knowledge of the matter said on Saturday. However, UBS will continue its corporate client service business, which includes mergers and acquisitions, equities...
  • Indian money in Swiss banks dips to Rs 9,000 cr June 20, 2013

    Zurich: Indians' money in Swiss banks has fallen to a record low level of about Rs 9,000 crore (1.42 billion Swiss francs), as a global clampdown against the famed secrecy wall of Switzerland banking system made it unattractive for their global clients. The total funds held...
  • Black money: IT approaches Swiss authorities November 18, 2012

    New Delhi: The Income Tax department, probing the secret list of account holders in the Geneva branch of HSBC bank, has approached Swiss revenue authorities for banking data of certain individuals after investigations showed some of them reportedly had other accounts under fictitious names. The department, which approached the Finance Ministry...
  • Black money: Govt's intentions malafide, says Kiran Bedi November 11, 2012

    Former Swiss bank employee Rudolf Elmer, who gave WikiLeaks the black money list, told CNNIBN on Sunday that the list included Indian politicians, cricketers and film stars. ...
  • 'Politicians, cricketers on black money list' November 11, 2012

    New Delhi: A former Swiss bank employee has claimed that several politicians, cricketers and internationally wellknown people have black money in the Swiss banks. Rudolf Elmer, who gave WikiLeaks the black money list told CNNIBN that he did not sell any data to the Indian government. Speaking via Skype, Elmer...
  • Govt targeting the small fry, sparing the corrupt: Kejriwal November 10, 2012

    New Delhi: India Against Corruption (IAC) activistturnedpolitician Arvind Kejriwal has refused to accept the government's statement that explained that a probe had been initiated into the information provided by the government of France regarding several Indians who had accounts in foreign banks. Speaking to reporters, Kejriwal said he had five questions...
  • Govt counters IAC, says details on black money being probed November 10, 2012

    New Delhi: The government on Saturday countered India Against Corruption (IAC) activist Arvind Kejriwal's claims that it is not acting on the alleged black money list handed over by the French government in 2010. In a statement, the government said that the information received from the French government had been...
  • Congress MP Annu Tandon rubbishes Kejriwal's allegations November 9, 2012

    Congress MP Annu Tandon had rubbished all the allegations made by Arvind Kejriwal against her saying they are completely baseless and malicious. "I deny any such rubbish and whatever he is talking, I don't know about any such thing," she said. ...
  • Misleading to say it's easy to open Swiss accounts: Banking Consultant November 9, 2012

    Banking Consultant Jasmine Arora said that it was not responsible of Arvind Kejriwal to say that opening an account in Swiss banks is easier. Kejriwal had said that the process of opening an account in the Geneva branch of HSBC Bank was easier than opening an account in the SBI...
  • Swiss banks' foreign client assets dip to 4yr low July 9, 2012

    New Delhi: Amidst a growing global scrutiny of overseas funds deposited in Swiss banks, the quantum of total foreign assets managed by them has dipped by nearly 300 billion Swiss francs (about Rs 20 trillion) since 2008. Also, the share of foreign client assets in Swiss banks dropped to 51...
  • Black money: Swiss banks' new safe haven idea July 2, 2012

    New Delhi: Amid a global crackdown against alleged black money in secret accounts of Swiss banks, their bankers are selling a new safehaven idea to their rich clients from India and other countries the highvalue 1,000 franc notes to be stored in safe deposit boxes. These boxes kept inside...
  • India ranks 55th on foreign money in Swiss banks June 17, 2012

    New Delhi: Indians' money in Swiss banks may have risen for the first time in five years, but they account for a meagre 0.14 per cent of total foreign wealth deposited there putting India at 55th place globally for such funds. The total overseas funds in Switzerland's banking system stood...
  • Indian money in Swiss banks rise again June 14, 2012

    New Delhi: Switzerland on Thursday said the quantum of money held by Indians in Swiss banks stood at 2.18 billion Swiss francs (about Rs 12,740 crore) at the end of 2011, rising for the first time in the past five years. The total funds held by Indian individuals and entities include...
  • Swiss A/C holders will be made public if we win: BJP May 30, 2012

    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...
  • Illicit outflow of money from India pegged at $ 104 bn May 22, 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...
  • Black money estimates lack proof: Switzerland February 16, 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...
  • $500 billion black money stashed abroad: CBI February 13, 2012

    Speaking on the issue, CBI Director AP Singh said the largest depositors in Swiss Banks were reported to be Indians. ...