Build your professional network on facebook via our app Go to app
 
 
By : Dinesh Kumar Mahto, Software Developer, Aithent Technologies,Gurgaon
Industry : Asset Management Functional Area : Capital Management
Activity:  4 comments  568 views  last activity : 07 01 2011 08:58:20 +0000
 Refer 21
Share
 
 
 

Indians have $1456 billion in Swiss banks. This amount is about 13 times larger than the country’s foreign debt. With this amount every indian gets Rs.50,000. Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of the interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.

Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of the following countries:

Top five

India---- $1456 billion
Russia---$ 470 billion
UK-------$390 billion
Ukraine- $100 billion
China-----$ 96 billion

Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.

 
4 comments on " Indians' Black Money In Swiss Banks"
  Commented by  Shahnawaz Islam, PR & Media Relations Manager, National Institute of Smart Governance    | 07 01 2011 08:58:19 +0000
This is an internet hoax, nothing else.
  Commented by  Shajprashanth K. A., CEO, PROPERTY EXCHANGE, www.propertyexchange.in    | 06 06 2011 18:21:00 +0000
Why Swizz bank? You can deposit it in Co-operative Banks in Kerala. KYC norms and AML provissions are no where in co-operative sector. It is owned by politicians, so no action can be taken against them by ordinary people.
  Commented by  nagesh rao, Freelancer, Freelancer    | 06 06 2011 13:09:35 +0000
Yes Dinesh Most of Indian money has been stashed in Swiss Bank and majority of the money belongs to Politicians & Businessmen.  Off-late the Bank has agreed to reveal the details if it earned thro' illegal means like drugs,smuggling etc.

Now is the time like US Govt. which has successfully got the details & confiscated the money stashed in Swiss Bank. Like wise India should also act in the same manner.It is difficult but not Impossible. 
  Commented by  SHRIKANT MANOHAR DANKE, Consultant, Project Management Consultancy Firm    | 06 06 2011 12:41:32 +0000
Thanks for the updates, Dinesh.
Add your comment on " Indians' Black Money In Swiss Banks"

Rate:
Submit
HR Function Outsourcing and Management Company
Manager Accounts
Asst Manager/ Deputy Manager
Viewers also viewed
According to a survey - "Indian Black Money in Swiss Bank" In 2006, the most recent Global...
 
460 referals 49 answers, 7277 views
Which would you prefer to bank with, a NATIONALIZED BANK or a PRIVATE SECTOR BANK.
 
108 referals 31 arguments, 30055 views
With years, banks are also adding services to their customers. The Indian banking industry is...
 
1009 referals 22 votes, 10016 views
more...  
Recent Knowledge (12)
In world of financial engineering , I have this information to share with you . Well the...
4 referals 3 comments, 747 views
Facebook will have market value of $234 billion by 2015, up from its current valuation of $85...
 
872 referals 22 comments, 490 views
Free Style Marketing How many times have you been to a business conference that guided the world...
 
72 referals 4 comments, 723 views
more...  
More From Author
I chose to deal with the issue of smoking as a "little fox" because most people that indulge in this practice do not realize the toll it takes on the longivity of their lives until it is too late. I read a shocking statistic that stated "the heavy...
Indians have $1456 billion in Swiss banks. This amount is about 13 times larger than the country’s foreign debt. With this amount every indian gets Rs.50,000. Once this huge amount of black money and property comes back to India, the entire...
more...