₹338 Crore Recovered in 10 Years Related to Black Money: Central Government

More than ₹37,600 crore of Indians’ money is held in Swiss bank accounts!

New Delhi – Over the past 10 years, ₹338 crore has been recovered in cases related to black money, the Union government informed Parliament. Samajwadi Party MP Javed Ali Khan had raised a question in Parliament regarding the doubling of assets held by Indians in Swiss banks. In response, the Minister of State for Finance provided a written reply.

https://twitter.com/SanatanPrabhat/status/1948341904799670277

According to the Swiss National Bank’s 2024 report, the funds held by Indians in Swiss bank accounts have tripled, reaching 350 million Swiss francs — approximately ₹37,600 crore. This data prompted the question raised in Parliament.

The government stated in its reply that Swiss authorities have clarified their “annual banking data” should not be used to disclose information about deposits held by Indian citizens in Switzerland. Since 2018, Switzerland has been sharing annual financial account information of Indian account holders with the Indian government. Indian authorities received the first set of data in September 2019, and have been receiving it regularly since then.

Additionally, India is receiving information about foreign assets and income from over 100 other jurisdictions.

Editorial Perspective

It is also expected that the names of such individuals will be made public and strict action will be taken against them !