India Now Receives Swiss Account Details
The Swiss Government has finally decided to share the details of the Indian who have accounts in Swiss Banks.
In 2011, a research said that Indians were the largest depositors of Black money in Swiss Bank Accounts. Some of you may wonder, what is so special about Swiss Banks? And why do Indians save their money in Swiss Accounts? Swiss bank accounts are famous because according to their law, they are not allowed to give names of the account holders and details about the money. Plus the money saved is completely safe.
Anyone above the age of 18 can open a Swiss bank account. The minimum balance in the swiss account $250,000 which is around Rs 18 lakh.For years now, we all have been listening to the same thing over and over. People keep saying that “People earn so much black money and save it in Swiss banks. And for years, the Indian government has promised that one day they will bring back all the black money save in swiss accounts.
Now the Switzerland government has finally agreed to share information about bank accounts of Indians. This will help India bring back all the black money. Government officials say that they will focus on bank accounts that are linked to politics.This information will be shared in September 2020.
The Switzerland government is going to share bank details about their customers with 75 different countries. They will share information such as account numbers, bank balance and details of the financial income of Indians who opened accounts there.
