Swiss banks

Swiss banks News

No claimants for dormant Swiss accounts of Indians; some may get liquidated soon

The claim period for some of these accounts would expire next month, while a few others can still be claimed till the end of 2020.

Indians’ money in Swiss banks falls by 6 per cent; 2nd-lowest level in over two decades

Total foreign deposits in Swiss banks also fell by over 4% to CHF 1.4 trillion (nearly Rs 99 lakh crore) in 2018, as per statistics released by central banking authority of Switzerland.

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Indians' money in Swiss banks falls, hits second-lowest level in two decades

A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018.

Opposition cites falling rupee, Swiss bank data to attack Govt

Union Finance Minister Piyush Goyal said India has sealed a treaty with Switzerland under which the Swiss government will provide data on transactions data from January 1, 2018 until December 31, 2018.

Piyush Goyal asks why it's being assumed all the money in Swiss banks is illegal

"If someone is found guilty, the government will take strong action against them," the Finance Minister said.

Money of Indians in Swiss Banks jumps 50% after decline for three years

The latest data from Zurich-based Swiss National Bank (SNB) comes months after a new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace.

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Pakistani money in Swiss banks down but remains above Indian funds

Despite the decline, the money held by Pakistani nationals and entities remains above that of Indians, which rose by over 50 per cent to CHF 1,015 million (about Rs 7,000 crore) in 2017 after three consecutive years of decline.

Indians' money in Swiss banks hit record low of 676 million francs

The total funds held by Indians directly with Swiss banks stood at CHF 664.8 million at the end of 2016, while the same held through fiduciaries was nearly USD 11 million, as per the latest data published today by the country's central banking authority SNB (Swiss National Bank).

New black money law: Swiss banks ask Indians to disclose their accounts to tax authorities at home first

Under the new law, a three-month compliance window has been given for disclosure of all undeclared foreign assets till next month.

Trader and the king

Our kings didn’t build systems to mobilise savings or mop up revenues. We haven’t learned from history.

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