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Industry : Asset Management Functional Area : Capital Management
Activity:  4 comments  376 views  last activity : 07 01 2011 08:58:20 +0000
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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"
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.
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