Indian ‘s money in Swiss banks rises 50% in one year
According to the latest data released by the Central Bank of Switzerland, the amount of money directly placed in the Swiss bank accounts by Indians increased to 99.9 million. Swiss francs reaching nearly Rs. 7,000 million Prime Minister Modi faces a major setback, Swiss Bank manages to increase manifold in 1 year. The Modi government, who claimed black money shortage, was hit by a report issued by the Swiss bank. Swiss banks have seen an increase of 50% in deposits of Indians. The figure of deposits of Indians deposited in the bank has gone upto Rs. 7000 crores which shows an increase of 50 percent in black money compared to an year ago.
50% jump in deposited amount in 2017. The special point of this report is that: in the first three years, there was a continuous decline in the deposits of Indians in the banks here. But in the year 2017, the amount of deposited funds has seen a 50 percent jump. According to statistics, the total wealth of foreign customers in Swiss bank accounts is more than 1460 billion Swiss francs (about Rs. 100 lakh crore). Despite the campaign against black money by the Modi government, the increase in the wealth of Indians in Swiss banks is going to be astonishing.
In 2006, Indian account holders had deposited the highest amount of 23 thousand crores. According to the Swiss National Bank’s annual report, the Indian deposits in Swiss bank accounts went down 45 percent in 2016 to 67.6 million francs (about Rs. 4500 crore). After 1987 (Swiss bank started to share data) this was the lowest amount deposited by Indian account holders. In 2006, Indian account holders had deposited the highest amount of Rs 23 thousand crore.
What is BLACK MONEY?
The Swiss banks accounted for 12% of the money collected in Swiss bank accounts, 43% in 2013, and 50.2% in 2017. Prior to that in 2004, this fund raised up to 56 percent. In India, the funds kept directly in Swiss banks increased to Rs 6,891 crores in 2017. While the money kept through fund managers was Rs 112 crores.
Modi government, Swami-Congress questioned about rising wealth of Indians in Swiss banks
New Delhi: Even more,The opposition is reminding the leaders of its own party, Prime Minister Narendra Modi, about old money for black money and Indians in black money and Swiss bank. The Bharatiya Janata Party (BJP) senior leader Subramaniam Swamy has attacked on the wildly increasing increase in the money of Indians in the Swiss bank. He tweeted in tone of tone that a big success for Finance Secretary Aditya. On one side, the world’s largest Swiss bank has raised the deposit by only 3%, while Indians have increased 50%.
“Whereas claims are being made to extract black money in the country, a report of the Swiss bank is misrepresenting all claims of the government. It is said from the time of the banquo that the country’s black money will be brought back. But on the contrary black money deposited abroad is increasing Indians’ Swiss money deposited in Swiss banks. For the first time in four years has reached the limit of one billion Swiss francs (Rs. 7,000 crores) last year, showing an increase of 50 percent compared to an year ago. This is revealed in the latest data from Switzerland’s central bank. According to this, the money kept by Indians in Swiss bank accounts has increased by more than 50% in 2017 to Rs. 7,000 crore (1.01 billion francs).
According to the Swiss National Bank (SNB) annual data, Indian wealth deposited in Swiss bank accounts declined by 45 percent in 2016 to 67.6 million francs (about 4500 crore rupees). On the one hand, there has been an increase in the money of the Indians. While the deposits of Pakistanis have fallen by about 21 per cent. Earlier, there was a steady decline in deposits of Indians in the banks of the three years here. In this country, which is an identity for its banking secrecy, it is surprising to see the rise in the time of the compilation of Indians. While the Modi Government has been claiming to run against black money holders abroad.
Jaitley hard on black money, say –
now the Swiss banks will get information on depositing money:
New Delhi:. Union Minister Arun Jaitley warned that it will be difficult to hide the identity of Indians who have illegally deposited funds in Swiss banks. And such people will be subjected to strict penal action under black money law. He said that from January next year, there will be immediate information about the accounts of Indians about getting started from Switzerland. Jaitley said in his blog, “A news has been published today that Swiss banks have increased the wealth of Indians. Because of this, the reaction came from some circles on the basis of incorrect information. And hence, has questioned the consequences of the efforts of the anti-black money step initiatives of the government. He said that Switzerland has always been reluctant to share information. Alpine countries have modified their home laws, including the rules for making the information public.
These countries have signed an agreement to share information with India in real time. And this will give India information only when an Indian deposits money there.
Some questions were raised to Modi Sarkar:
Ask the Prime Minister, that he is making India a World Leader (Vishwa Guru) or a fool?
An year after the ban, Indians’ money in the Swiss bank increased 50 percent. Not necessarily every money kept in Swiss bank should be black but the government should tell what else is this money?
Swiss National Bank has stated in its annual report that 50 percent hike is found. It’s been amazing an year after the banquet. It is not necessary that every money kept in Swiss bank will be black. But black money will not be there, this clean chit can be given by the Modi government. Modi Government did not understand the point when Narendra Modi tweeted with his Twitter handle that vote for the return of black money deposited in the Swiss bank.
Congress President Rahul Gandhi on Friday targeted Prime Minister:
Narendra Modi for 50 per cent jump in Swiss bank deposits by Indians, saying he had promised to bring back all illegal money stashed abroad. But his government was now virtually saying that there was no illegal money in Swiss banks.
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