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Industry : BankingFunctional Area : Politics(Personal Interests)
Activity:  9 views;  last activity : 10 08 2010 10:54:01 +0000

I read a Question by Mr. Santosh Jadhavin in these pages that the average amount stashed away from India annually during 2002-06 is $27.3 billion (about 136,466 crore). It means that during the five-year period the amount stashed away is 27.3x5=136.5 billion (about 692,328 crore).

 
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1 Open a Bank on the lines of Swiss Bank

Open a Bank on the lines of Swiss Bank

idea posted by Suryanarayan Murthy Asst Vice President (Corporate Finance), A Hydro Power Project

Why not the Government open a Separate Bank in India on the lines of Swiss Banks, so that the money does not go out of India and is available to the Government. All these 60 years of independence decisively proved that we can not combat corruption. Accept it boldly and let the money remain in India only. The money can be utilised for development shcemes and providing compulsory education to children - necessary for making India a developed country -  Think poisitive. Let's redefine the values. What is your suggestion on this ?

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Thats indeed great thought Mr Murthy.  

Use such big funds to finance corporates, SMBs and for many development activities to emerge as developed country.  All loan rates shall come down drastically.

But by doing so we will/may not be able to attract accounts/deposits from Indians, as the rule may change any time.  Being in other neutral country, India can't do much about getting money and revealing names and amount of account holders.

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