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On Monday, Indian Government received the list of Indian account holders having Bank accounts in Switzerland. This is termed as great success for Indian Government and especially Indian Foreign Policy. Getting the List of Switzerland Bank Account Holders which seems as a root for #BlackMoney from foreign land, the Modi government has achieved a success which was open for just few countries. The Government of Switzerland on Monday submitted the first list related to bank accounts of Indians to the Government of India. India is one of the few countries, getting the credential information on names of Account Holders having account in Foreign banks.
Based on report the Switzerland's Tax Department has submitted the 1st List or information specifying Swiss Bank holders name has also asserted to provide next information to the Government of India by 2020. As per anticipations Indians having Bank in Switzerland are large in numbers and this number is approximate to 31 lakh accounts. Switzerland has millions of Foreign Accounts in its Banks and from around 75 countries of the world are recently on the radar, including many accounts of India, which is believed as root for Blank Money.
Getting the new List of account holders by Indian Government, will now prompt Income Tax & other related agencies to smoothen their movement against the Blank Money. The First information Received about the Indian accounts opened in Swiss bank by Switzerland has is accepted by the government. Sources in the government after receiving the Account information from the government of Switzerland say that not all accounts are illegal in the information received and not all are legal.
Indian Government agencies can now start an investigation in this case, in which the names of account holders, their account information are shared and action will be taken against the culprits of Black Money and Money Laundering.
Bringing black money from Swiss Banks have always been a tough task since last decade and to fight corruption and Blank Money Indian government has pitched several times to Swiss Government in the same regard. Taking away money stored in Swiss accounts illegally has been a big task for the Modi government, whether in 2014 elections or the 2019 Lok Sabha elections. After Indian Govt emphasis the government of Switzerland which has been constantly approached to gather information, on Monday compiled a list of Indian money landers in Swiss accounts. Modi government terms this as a success in fighting black money & corruption in country.